would remind you
I mentioned the problem is getting worse over a period. IF you look at the chart the numbers are steadily increasing from 2002.
7.6M are significant inventory. Let us assume even half of it can come back to market that is 2 years of construction.
Now, if you can plot the held off market vs total inventory from the time the data is available, you can see how the number increased from 3.2% to current 7%.
I am not sure you are looking at the number with a proper historical context. IN any case, if you think 7.6M “off the market” coming to market is not going to make any difference, then there is nothing to talk.