"Except we know it's a building issue. Housing starts are lower than they were in 2000 despite adding 50 million in population."
Check the timeline and distribution though. Housing starts dropped in 2008. Measure the population from that point. From 2008 on, you're looking at .5% population growth and it's dropping. Housing starts are still reasonable at about .5M-1M units.
The problem is distribution. Population growth in certain cities has outpaced building in those cities. However, there are other cities where the inverse is true.
"Vacancy is good - higher vacancy is related to lower prices. Vacancy rates are the lowest they've been in decades."
Vacancy is only going to lead to lower prices if those vacant units are on the market. That's not necessarily the case with the corporate owners.
Check the timeline and distribution though. Housing starts dropped in 2008. Measure the population from that point. From 2008 on, you're looking at .5% population growth and it's dropping. Housing starts are still reasonable at about .5M-1M units.
The problem is distribution. Population growth in certain cities has outpaced building in those cities. However, there are other cities where the inverse is true.
"Vacancy is good - higher vacancy is related to lower prices. Vacancy rates are the lowest they've been in decades."
Vacancy is only going to lead to lower prices if those vacant units are on the market. That's not necessarily the case with the corporate owners.