[mjevans]

Actually construction wants to expend the least effort for the most profit. Given how critical the housing gap is in most areas* (that are near jobs) right now all that 'wants' to be built is the upper end of housing. If the market hadn't reached these levels that /would/ be fine, since then previous housing from that category would depreciate in to the lower income strata in an actual trickle down method. What will happen instead is that only enough housing will be built to maintain the current status of an unhealthy market.

In order to have an actual //correction// in current trends directed building must be several times beyond a normal build rate to make up for the decades of under-performance.