There may be a time delay for the effect to be felt. But more directly (excuse my directness) building a nice new apt building in your area may actually increa

There may be a time delay for the effect to be felt. But more directly (excuse my directness) building a nice new apt building in your area may actually increase rent in your area. But it may decrease rent in other areas, as people move into your area. Weather is not climate, and your neighborhood is not "The Economy". And in general, we should expect rents to increase over time, but hopefully at a much slower rate as we build more.