WHO WOULD HAVE GUESSED THAT THE LAW OF SUPPLY AND DEMAND APPLIES TO HOUSING?

​Certainly not people who are clueless enough to say things like this:

​Tokyo is one of the few cities in which supply has kept up with demand, keeping a crisis from developing. But that is due largely to deregulated housing policies that other countries would have a hard time reproducing.
“It goes against the notion of planning and developing cities in an orderly fashion,” said Laurence Troy, research fellow at the City Futures Research Centre of the University of New South Wales, Australia.