"The glut is speculation. what if new construction goes rental instead of condo? have to assume that new building will slow down with this recession. so.. that means fewer new buildings coming on line in 2010/11. i think in 3-4 years we'll see demand out strip supply again because of too many proposed condos going rental. the euro thing may or may not matter. the city is expecting a major population increase and that's on top of over-all housing shortage in the city." [Manhattan's Foreign Invasion Over?]
For more stories from Curbed, go to curbed.com.