Many people in the Bay Area argue that NIMBYs ignore the basic economics of supply and demand. Build more housing, they argue, and prices will inevitably drop.
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Rents in Tokyo would disagree. Also, there’s non-monetary benefits to growing the city (as you mention: they’re more desirable to live in)
Rents in Tokyo are a lot higher than rents in almost every other town in the world. Your second remark is a distraction from my argument (indeed, I noted it as a parenthetical).
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Point taken. My point is that those rents are quite lower than ours and there’s 30 million people living there. Berlin is a strong argument for your point about maintaining higher vacancy rate.
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I'm certainly not trying to argue that there aren't policies that can make a difference in very large cities. Just that the "increase the housing supply and prices will fall, it's just basic economics, duh" argument seems wrong to me, over the long run.
End of conversation
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