But Tokyo has accommodated growth without rent increasing significantly. No US city can say the same (edit: zip1234 proves me wrong below.)
Isn't Tokyo famous for stuff like tiny, tiny microapartments? Are the rent increases comparisons you allude to measured per apartment or per square foot?
funny how no one can cite any other city. if the theory was true there should be dozens of examples.
Building more reduces prices below what they would have been if that building didn't happen.
seems like moving the goal posts. it's only expensive to begin with due to the density and subsequent amenities enabled by such.
why is for example Manhattan more expensive than Brooklyn? it's more dense, should be cheaper accordingly to the density makes cheaper logic.
people keep moving the goal posts, but anyone can go on Redfin and figure this out themselves. look at the median rent, find the median wage, find the median sq footage. calculate the adjusted wage by sq/ft. it's not higher in dense areas.
It's more expensive because many more people want to live there than want to live in Brooklyn, outstripping the available housing to a greater degree. It's basic supply and demand.