When does New Construction ever make sense for multifamily?

[Grant Doyle]

Many of us buy an already existing property. I am wondering how groups and individuals can afford / see the opportunity to build new? When thinking about this question I am mainly thinking of large commercial properties, but I guess the same is true to duplexes and small multifamily. Are they expecting to build, occupy, then sell? Then who would buy that new and overpriced property? I am looking for multifamily in Kansas City and have had this thought stirring in my head for a little while.