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I feel that you missed one basic aspect of economics. Competition is one reason prices might go up. There are other reasons, which are relevant here. Monopolies, collusion, price fixing, goods that people can’t live without, speculation, those are also reasons that prices go up.
In the housing market, it’s not fair, it’s not free, this isn’t a basic supply and demand situation.
I feel that you missed one basic aspect of economics. Competition is one reason prices might go up. There are other reasons, which are relevant here. Monopolies, collusion, price fixing, goods that people can’t live without, speculation, those are also reasons that prices go up.
In the housing market, it’s not fair, it’s not free, this isn’t a basic supply and demand situation.