Gee: fewer new houses + foreclosure = no house = must rent.
Its not magic.
Of course, when houses were going up as fast as a model T assembly line, that wasn’t magic either.
Houses didn’t go up fast here in the last national boom. We’ve been in a pretty flat market since 2001. That’s why it would be good if others would post local real estate conditions. There are hundreds of submarkets in the USA, and national figures are meaningless. The Denver residential market is mixed, commerical construction is strong, and the resort areas are hot. Areas just North of Denver are having a tough time, to the South, it’s better. And you are right that it’s not magic, it’s just the cycle, and we’ve been through a lot of cycles here.