> Not really, taxi medallion owners are a powerful special interest group. Just like Bay Area homeowners. And YIMBY-type groups fight against these artificial

> Not really, taxi medallion owners are a powerful special interest group. Just like Bay Area homeowners. And YIMBY-type groups fight against these artificial restrictions on supply. That's not an argument that the fundamentals of supply and demand doesn't apply. > is the additional supply causes prices to drop by some amount, which attracts new residents attracted by the drop in prices until the housing costs almost as much as it did before That's the definition of demand: the number of people who would buy a good at a given price.