 The rental demand continues. Rental incremental supply simply isn't there, especially in small to medium-sized markets. Thomas Carroll, CEO at Ballast Rock Asset Management, says supply is greater in larger markets due to a build-up in the go-go days of lower borrowing costs for developers and other builders. Markets like Atlanta, like Charlotte, like Charleston, there arguably has been substantial development. But in small to medium-sized markets, there really was never that incremental supply.