Key takeaway here: > evidence that for every 10% increase in the housing stock, rents decrease 1% and sales prices also decrease within 500 feet. In addition,

Key takeaway here: > evidence that for every 10% increase in the housing stock, rents decrease 1% and sales prices also decrease within 500 feet. In addition, I show that new high-rises attract new restaurants, which is consistent with the hypothesis about amenity effects. However, I find that the supply effect is larger, causing net reductions in the rents and sales prices of nearby residential properties.