Quote Originally Posted by cramerro View Post
If there was such a glut of hotel rooms, why would they spend considerable time developing the project? Why would the two Birmingham sites have spent a LOT of time and money developing proposals and getting City approvals?
Wait, what? You're saying that, in a market economy, all participants automatically act rationally?

Highland Park built something like 100 single family homes in the last few years. Most sit abandoned, and those occupied have almost no market value.

Dubai built 100 floor buildings that sit empty, artificial islands sinking into the Gulf, and even planned an underwater hotel. Should we take these projects as face value demand?