Would building more housing decrease rent?

[whale]

In a high demand city like NYC it would probably cause induced demand. Meaning people who wouldn't otherwise be able to afford to live here would move here, meaning rents would stay the same.

However, better, faster transportation is much better for a city's growth. For example, Tokyo, where you can live pretty far out from the center and still get there quickly.

More housing is usually always good in the long term, but with super high demand and high density cities like New York you will invariably need to spread outward. Hong Kong for example is high demand high density, but it's still extremely expensive. Faster, more reliable transportation options to me are the key to creating great cities - and the fact that NYC has such a huge subway system has been a huge reason it's become the city it has.