I don’t agree that rising rents reflect insufficient development activity.
In new buildings, the retail space is priced high. It really can’t be otherwise, due to the cost of the new building.
sorry that’s not correct. Rent like most other things is affected by availability of space to be rented and market demand for the space .
eta that’s why excessive regulation and rent controls can and do negatively affect the costs associated with leasing space .
the harder you make it for property owners to make space available profitably the more it will cost to rent the available space