There’s actually oversupply and prices are pretty good right now - relatively speaking of course.
How do you define "pretty good"? Sure, prices in some areas are less than their peak, but many people are still struggling to afford housing.
The second is simply vacuous.
[0] (2018) https://www.bloomberg.com/news/articles/2018-04-12/pick-a-ne...
It's like -- okay, a 1BR in a reasonably accessible neighborhood now costs $2600 instead of $2700. What are we talking about here?
The tipping point for crime was around 1996-1997. After that, murders (while a bit higher) were much closer to current levels.
After that there was about a 12 year period (until 2010) when rents weren't nearly as high as they are now -- around 40 percent lower across the board; and some neighborhoods have basically "flipped" and seen their median rents double.
The point is, from around 1998-2010 the city was about as "desirable" as it is now -- but significantly more affordable. To get affordability back to those levels -- we'd have to see something like a 30 to 40 percent reduction throughout the system.
It seems unlikely that would happen, even given the most ambitious upzoning, and the most wildly optimistic increases in inventory anyone could reasonably hope for.