These articles are speculative on the cause. I don’t see any data on the supply increases.
Some of these cities, didn’t increase supply. For example San Francisco saw similar decreases it they offer to exploration there.
The rents decreases are year over year but are flat over a two or three period of time, it’s just as likely the rent increases were a bubble that popped and not because of some unspecified change in supply.
I mean every city is different. In the case of San Francisco, it could be that city is shrinking and that is driving down prices. However, in the case of the Texan cities, which are all growing, the decrease in rents is indeed due to flooding the market with new housing units:
Though the price housing has gone up considerably which is slowing down construction, which might bring up the rents again. However, this still shows that building new housing units in mass does bring down prices.
These articles are speculative on the cause. I don’t see any data on the supply increases.
Some of these cities, didn’t increase supply. For example San Francisco saw similar decreases it they offer to exploration there.
The rents decreases are year over year but are flat over a two or three period of time, it’s just as likely the rent increases were a bubble that popped and not because of some unspecified change in supply.
I mean every city is different. In the case of San Francisco, it could be that city is shrinking and that is driving down prices. However, in the case of the Texan cities, which are all growing, the decrease in rents is indeed due to flooding the market with new housing units:
https://www.austinmonitor.com/stories/2024/02/austin-apartments-boomed-and-rents-went-down-now-some-builders-are-dismantling-the-cranes/
Though the price housing has gone up considerably which is slowing down construction, which might bring up the rents again. However, this still shows that building new housing units in mass does bring down prices.