Are we running out of *rental* housing?

``We have certainly bounced off the bottom but we are a far cry from the over 2 million starts back 10 years ago. Much of the excess housing units are being sold off in this low inventory market. The question of course is what happens when you price families out?... Household formation continues to be near a generational low. Until we start seeing this increase, there is little reason to believe that home sales will take off again.''