I find it hard to believe that refusing to rent out 3 units would raise the fourth one from $1000 to $4000. I also don't think businesses normally refuse to sel

I find it hard to believe that refusing to rent out 3 units would raise the fourth one from $1000 to $4000. I also don't think businesses normally refuse to sell large portions of already produced merchandise to maintain artificial scarcity. Maybe that happens in limited scenarios for short periods of time, but I don't think it's usually a cause of severe, chronic undersupply like what we're seeing in the NYC housing market. Of course, like I said to the other comment. I'm open to hearing contrary evidence (if it comes from actual economists and not journalists).