Artificially created lack of supply
There are many contributing factors to the high demands and high rents. The values have been heavily manipulated by the “artificially created lack of supply” as Moby puts it. Sense we agree that the shortage is not real, we should agree that correcting that deficiency is an immediate problem that should be solved if we ever want to know what the real demand is.
Turning building on and off like a faucet is a good way to manipulate the market. A slow trickle works best to fill the supply without wild valuation shifts. Ask ourselves who is benefiting from this crisis and you know who is creating it.
The question is, how do we protect the affordable units we have and how do we return the empty units to the rental market and fill them with solid citizens, instead of transients and tourists.
That is the questions we need to ask our elected representatives and those running for office to fill the seats at City Hall, in Sacramento and in Washington. Those are the issues the media needs to cover.