That's because extreme scarcity distorts the market to the point that old housing never gets to its natural cheap point. If they stopped building but only a fe

That's because extreme scarcity distorts the market to the point that old housing never gets to its natural cheap point. If they stopped building but only a few cars, a pimped out Datsun 240Z from the 70s would still look a lot better than walking, and fetch a lot better than 70s prices. In fact you could raise them with impunity. Didn't something similar happen in Cuba?