> Supply is driven by demand unless there is a monopoly in house building (there isn't).
There is, however, a monopoly on issuing building permits.
> Supply is driven by demand unless there is a monopoly in house building (there isn't).
There is, however, a monopoly on issuing building permits.
Bingo! And that's on government. Remove (or relax) those now by decree and rent prices drop tomorrow
Government? Or the people? These are local government issues, they're not that far detached from the people who elect them.
Well, people and local government in most other countries have no option to set expansive zoning restrictions. It's the rules set up on higher level that enable this system