> They are building a lot of housing in Arizona, it is mostly luxury apartments which contributes to the problem of affordable rents because it tends to increas

> They are building a lot of housing in Arizona, it is mostly luxury apartments which contributes to the problem of affordable rents because it tends to increase the rents of neighboring apartments. This does not make any economic sense whatsoever. From your sibling comment: > Unless population grows faster than prices can decrease keeping demand high. Isn’t it the population growth that’s causing rent increases? Not luxury apartments, unless you think luxury apartments are the cause of this population growth. I suppose that wouldn’t be impossible, but it’s more something you’d expect to see in places like Jackson Hole.