Thank you. I think people are far too quick to imply every problem is caused by bureaucratic over regulation. Manhattan is also the counter example that always

Thank you. I think people are far too quick to imply every problem is caused by bureaucratic over regulation. Manhattan is also the counter example that always comes to mind for me. If you have a lot of relatively well off people chasing the same thing the prices are going to be high no matter what. Urban rents generally only come down if the economy crashes or an area becomes undesirable (i.e. a lack of people people willing to pay the prices). I would love to see examples of an urban area (i.e. not a suburb) where rents went down MAINLY because of building new units, even while demand and the economy remained strong.