It has been our belief at CWS that housing in totality has been undersupplied. This does not mean that apartments may not be over-supplied in certain metro areas, particularly in the urban core. This is the case because these properties are often very dense and result in the delivery of a lot of units at one time that can often result in rent discounts to entice people to rent at these communities so developers can expedite getting out of their construction loans and/or be in a position to sell their properties.
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The old adage is that the road to hell is paved with good intentions. As Ben Graham said, it’s not the bad ideas that do you in, but the good ideas that go too far that can do the most damage. A perfect example of this was the drive for more Americans to own homes,
This is part two of my blog post regarding 
This week [April 2015] the NASDAQ finally exceeded its previous high reached in March 2001. Here is a graph that shows what happens when a financial bubble bursts.