Why do you need new buildings? This article is literally about the value of a building declining. The problem is that there are large numbers of dwellings that

Why do you need new buildings? This article is literally about the value of a building declining. The problem is that there are large numbers of dwellings that are empty, but the property owners don't want to rent them out in the vague hope that in the future they'll be able to charge much more. So you get high rents and homelessness (that's your fentanylpocalypse that you've decided is the city's fault and not the predictable consequence of cost driven homelessness) while also having large numbers of unoccupied apartments. All because a bunch of investors are hoping that by restricting the supply they can push rent prices up.