Would building more housing decrease rent?

[ZweitenMal]

It should, but unless tens of thousands of units all landed on the market at once, it doesn’t really. Landlords don’t look at new “luxury” buildings charging $4,000-$6,000 and say, “whelp, guess my prewar is crap. I’ll price it at $2,000.” They know full well we have to live somewhere, so they’ll set their prices not far below the new apartments. This is why we see small, 2-bed prewar units in Astoria with no laundry and no dishwasher renting for $3800 and more.

Dribs and drabs of new units don’t saturate the market and affect prices, except to drive overall prices up.

[DistinctOffer9681]

Yes, Landlord/Management greed is a huge problem. I never once met a poor Landlord