> Building housing in a bull market is almost always the right choice, but let's not pretend rents are going to magically fall. Or stop rising. Housing is one o

> Building housing in a bull market is almost always the right choice, but let's not pretend rents are going to magically fall. Or stop rising. Housing is one of the most elastic goods one can find. Everyone has to sleep somewhere. It doesn't matter if it's inelastic if demand can meet supply. The econ 101 example is diamonds (expensive but useless) vs. water (dirt cheap but necessary): https://en.wikipedia.org/wiki/Paradox_of_value https://en.wikipedia.org/wiki/Paradox_of_value If the theory's not enough for you, I don't have it on hand but there's empirical research that shows this relationship holds for housing like it does for any other good.