The US has a record amount of multi-family units under construction.

Analyst Comment: A real estate blow-up is coming and its going to hit hard. Institutional buyers and wannabe real estate moguls have been buying up houses to rent them out or Air bnb them, and now they need to offload. Combine that with units under construction and available supply is about to go through the roof. Prices will drop across virtually all markets by double digit percentages. Those expecting real estate prices to stabilize at these level or go much higher, are in for a big shock in the next few months.