[jessfyi]

Well they are leaving them vacant. Both rentals and houses across the country are sitting unfilled. NYC has anywhere from 13-26k rent controlled apartments vacant. As of last year ~16 million homes were estimated to be vacant overall and increasing interest rates have likely increased that. Why? Because these large orgs have purchased them via debt and it's just a line-item on a spreadsheet to them. Just build might work in a world where market actors were wholly rational and the government regulations actually targeted these perverse incentives, but that's not the reality we currently find ourselves in.

[vel0city]

Vacancy rates aren't generally increasing though. Vacancy rates are lower now than in 2003 by a good bit.

https://www.census.gov/housing/hvs/current/index.html

[dublinben]

Why "Vacant Homes" Won't Solve the Housing Crisis - https://www.youtube.com/watch?v=3xZXdXxYBGU