Comment by kelnos

I don't think you can say that universally. Some people prefer to rent instead of own. Some people would like to own, but would probably still only be afford to rent even if home prices were more affordable.

Sure, you can absolutely make the argument that for some specific region there are too many rental properties and not enough owner-occupied properties, by looking at the supply, demand, and pricing for each type in that region.

But you absolutely can't say that as a general statement. There is demand for both sorts of housing.