Everything you said is true, except one thing. You assume that the supply can increase if there's more money for rent. But, that's not entirely true. As you

Everything you said is true, except one thing. You assume that the supply can increase if there's more money for rent. But, that's not entirely true. As you said, NIMBYs are blocking developments at every turn. The supply is not being allowed to increase. And by hamstringing developers with affordability requirements, that's going to decrease supply even further.