Allan-You are pretty much correct, IMO. The back end (processing) and the front end (releasing to market) are all being metered by a cumulative effect. Logistic hold ups on the back end and a purposeful effort not to flood the market on front end. Even the condo-turned-rentals in my neighborhood are only being advertised one or two at a time when there are 8-30 units that are available. Some are even renting some units and trying to sell others in the same building. Otherwise known as a clusterfuck when looking at it in total and trying discern value.