> In most places new supply is high end and is making more housing available for people who don’t lack access.
In most places, new cars are more expensive than used ones, but if you stopped providing new cars, the price of the used ones would shoot up as everyone started competing for a dwindling supply of cars.
In most places, new cars are more expensive than used ones, but if you stopped providing new cars, the price of the used ones would shoot up as everyone started competing for a dwindling supply of cars.
Same goes for housing.
Also, it's a longer term process with housing, but 'filtering' is a real thing: https://oregoneconomicanalysis.com/2016/05/25/housing-does-f...