However, landlord advocates spread the counter narrative, of people mistaking symptom for cause, and unsophisticated public laps it up. People hate to see change and want to blame new buildings for high prices, even though they lower them universally.
The only way to fix this is to drastically incentivize building to the point that supply is higher than demand.
Mostly agree with your comment though!
Vacancy should be up close to 10%, IMHO, with anything below 5% considered a dire crisis that needs immediate fixing.
Please share. Remember, prices are at the intersection of supply and demand, and moving one curve will inevitably affect the other.
But this newer paper is far more comprehensive on far more topics. IMHO it's far too charitable to some really bad and research with highly biased and methods (e.g. Damiano) but it still does point out the flaws there.
https://furmancenter.org/files/Supply_Skepticism_-_Final.pdf
Unfortunately this review does not cover the spate of papers in the 2020s that I was originally thinking of, so I'll see if I can dig that up still.