Agreed, thanks, you expressed it better than I could. This is why I tend to question the YIMBY war cry of build build build until rent is affordable, as unreal

Agreed, thanks, you expressed it better than I could. This is why I tend to question the YIMBY war cry of build build build until rent is affordable, as unrealistic. As you say, the build rate has to be consistently above the absorption rate. But that seems quite unlikely since builders are not chasing diminishing profits. That's why don't see real world examples of cities that become denser and denser while becoming more affortable (relative to income, as you point out).