If you look closer, it's still Supply & Demand ruling.
Housing is unused when the revenue from rents is less than the cost of taking care of the renter. Renting out a place can have high costs, like having a bad renter.
Housing is unused when the revenue from rents is less than the cost of taking care of the renter. Renting out a place can have high costs, like having a bad renter.
Hence, it is less risky to just leave it vacant.
Rent control has all kinds of self-defeating consequences.