So many times that I've talked about the fact that this is happening, someone has come out of the woodwork to deny that rental units get warehoused at all (usually within the context of an, "To solve this crisis, we must build more, by subsidizing builders!" argument). And no one ever mentions where this extra value and money is coming from: off the backs of the ever-more economically-precarious workers who can't afford to buy and hold these assets.