If there is evidence of that I'd love to see it. If this was true then we'd have a huge supply of homes all over America now which I think is not the case is it? All I hear about is undersupply driving up home prices despite demand being low. I live in Austin where this is very true so maybe I'm in a bit of a bubble?
The focus was turned from single-family housing to apartments, specifically luxury apartments as the luxury housing sector picked up steam quickly as developers and investors jumped on those properties when they were at their lowest prices. So "luxury" apartments were built at low-costs and purchased by investment firms. The main focus was for the builder to get their money back and more as quickly as possible, minimizing their risk, and the investors in the new complex got a bargain "luxury" property that they can increase rents quickly on, while ensuring demand since fewer and fewer single-family homes were being built.
The current issue of supply and demand for housing is, largely, artificially created, possibly accidentally. Single-family housing is just risky now, apartments are less risky. But as people are desiring yards and space again (due to COVID and WFH), we are now seeing the rental model extend to "build-to-rent" single-family communities.