Considering that this is new capacity, not total capacity, it’s a fucking absurd outrage that it’s anything less than 100.0%.
Every percentage point less than that represents us continuing to make the problem even worse even though we goddamn well know better!
Housing shortages are caused by bad government policy: namely, low-density zoning. Direct your anger towards the entity that deserves it, and make them fix their fuck-up.
(Note: I’m not making some kind of Libertarian “all government is bad” argument here. I’m saying that in this specific case, the laws need to be changed.)