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Yeah—Houston and Dallas, today. See also Matt Yglesias's The Rent is Too Damn High.

More generally, if you get more supply in the face of increasing demand, but not enough to lead to actual decreases, you still get smaller increases, per basic micro econ.

Smaller increases I might believe, but after watching buildouts rent above market (sometimes much more so) in around a dozen areas (and average prices continue to rise), I strongly suspect the simple micro econ story is wrong.

About Houston: is Iglesias the source for that? If not, where would I read more? and is the buildout preceeding reduced prices post 2008?

My girlfriend's experience is that rental prices have been rising sharply in Houston for Montrose and the Heights. There are bargains to be had in East End district, but that's too edgy for her. There are cheaper places to live, but you end up driving everywhere.

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