"… adding new capacity can no doubt release some of the upward pressure on rents"
The rest is just an extended argument that the international rich are using real estate as a speculative investment vehicle/store of money. True, but that doesn't mean that adding housing exacerbates the problem of rich people bidding the prices of housing higher.
The rest is just an extended argument that the international rich are using real estate as a speculative investment vehicle/store of money. True, but that doesn't mean that adding housing exacerbates the problem of rich people bidding the prices of housing higher.