What an odd take... the *correct* take is that we are NOT building enough. For all that "nonstop new building" people love to bemoan and criticize, we are getting MORE people than actual housing units, which is why prices DON'T come down or remain stable. Just to illustrate the issue, consider this: in 2000, it was estimated that JC's population was 240K. By 2010, it was estimated to be 247K (an increase of ~3% over 10 years) and then by 2020 it was estimated to be 292K (a increase of over 18% over 10 years, or 6x the growth of the previous decade). In the same period, the number of housing units did not grow nearly enough, so our vacancy rate of available housing units actually went down, demonstrating that we are not keeping up and instead are facing a market that is further constrained.