The thing you’re not seeing is a)how much pent-up demand there is. b)how many people are moving in daily. It might look like there’s a lot of housing going u

The thing you’re not seeing is a)how much pent-up demand there is. b)how many people are moving in daily. It might look like there’s a lot of housing going up, but if there were 1.5x that many households trying to move in during the same time period, it would still be getting bid up (and more roommate situations allowing higher bids - we used to share a 3BR 3 ways, but now we’re all making good money and have split into 3 homes). Most cities have been massively under building, compared to the number of new residents coming in, for a very long time. There’s been a tsunami of people moving from rural to urban areas, while residents have been resisting change. You’re not going to fix that with 10 new towers per year.