Smaller increases I might believe, but after watching buildouts rent above market (sometimes much more so) in around a dozen areas (and average prices continue

Smaller increases I might believe, but after watching buildouts rent above market (sometimes much more so) in around a dozen areas (and average prices continue to rise), I strongly suspect the simple micro econ story is wrong. About Houston: is Iglesias the source for that? If not, where would I read more? and is the buildout preceeding reduced prices post 2008?