> It’s unreasonable because increased supply reduces price almost always. Except that it doesn't because of the nature of the financing agreements on these kin

> It’s unreasonable because increased supply reduces price almost always. Except that it doesn't because of the nature of the financing agreements on these kinds of apartment complexes. "Missing rent" can be tacked onto the end of the financial agreement. "Lower rent" requires you to recapitalize your financing--which is absolutely NEVER going to happen with the interest rates having gone up. Therefore, apartments will sit empty for years rather than allow rent to go down. That benefits nobody. Lots of various places would need to implement a "lack of occupancy tax" in order to force the rents to come down.