Reply To: Emperor with no clothes?


Sun Seeker wrote:
Can anyone think of a comparable situation, where developers speculatively build two or three times (just a guess) more property than the market requires?

Yes, in California, Florida, Nevada and Arizona.

They counted on the mass migration of retired baby boomers and built hundreds of thousands of houses which now sit empty or squatters grow pot or have create met labs. The pools have become mosquito paradises and the lawns (where it rains) are genuine jungles…

This is why Spain will go the USA way i.e. will be pain in almost all the overbuilt places…