AFAIK developers have not formed a cabal that is trying to manipulate local real estate pricing. Developers will build as long as it seems profitable to do so.

AFAIK developers have not formed a cabal that is trying to manipulate local real estate pricing. Developers will build as long as it seems profitable to do so. Presumably this means that when the prices do go down, a few projects will end up in the red when they're done.