You hit the nail on the head with that one. Chicago is seeing this. New housing is being built all arround me. However it's 1.5k for a studio. That's the cheapest it goes. 2 rooms goes for 2.6k starting.

Nobody is building modest housing options. They're all going luxory in Logan Square. That's incredibly unreasonable. I kind of hope that some of these developers are going to go belly up over this.