I honestly think this is no longer correct. Construction costs exceed the future value of the rental income stream for multifamily developments in most markets. Apparently the only projects that pencil out now are massive developments, which are hard to build in places where people work as they are already somewhat dense and don't have many empty fields. The cost of materials are going back to normal (with some exceptions) but the labor costs are increasing due to a shortage of workers. Construction costs could be slightly lowered by reducing the required quality of construction, but not by much.

> The answer is building more housing. That's all. No magic pill or silver bullet. Just build housing. Near where people work, ideally.

You mean near where people want to live or want to work? We have plenty of housing, just not in the boom towns that are growing rapidly.

I agree with you but the political/legal hurdles to doing this legally are substantial (it's basically impossible, or at least relatively uncontrollable). How might you do this without a legal breakthrough?