That means throughout this whole next market cycle there will be a shortage of supply and an influx of potential new renters (unless everyone displaced moves in with mom and dad or grandma).

The standard printed exception as to discrepancies, conflicts, shortages in area orboundary lines, encroachments or protrusions, or overlapping improvements:(i) will not be amended or deleted from the title policy; or(ii) will be amended to read, "shortages in area" at the expense of Buyer Seller.Why would I choose (i)? 

There is no shortage of properties in B and C neighborhoods that have the potential to cash flow well for you.

President Biden is calling on Congress to enact an innovative, new competitive grant program that awards flexible and attractive funding to jurisdictions that take concrete steps to eliminate such needless barriers to producing affordable housing.See my post on Raleigh zoning changes to relieve 2/3/4-plex shortage regarding one city that anticipates federal funding grants for this purpose. 

We have a housing shortage and everything decent sells within a day or two, usually significantly over asking.

SoCal continues to have a housing shortage, and they are expanding along with new businesses flocking into downtown.

Expect Reno, Nevada to be on the high end of most of those costs because of the labor shortage and premium Real Estate prices.

How would you look to take advantage of a shortage of rental demand in a more owner-driven area? 

With what I've seen there is a shortage of rentals and most of the homes that are being sold that have been used as long term rentals have had no vacancies for years! 

Lumber shortage due to trade war with China.