“Maybe our regional wage/population trends don’t economically support the absorbtion of the additional 10% more housing we’ve built in the last 10 years. Maybe now that the specuvestors have left the building we’ll end up facing an oversupply of homes that would lead to a period of below trendline pricing”
In other words: Excessive things correct themselves excessively.
Adages like the above were not created out of a vacuum. I would be surprised if the correction does NOT overshoot.
