The market, left to its own, will keep building because someone will see the prices people are willing to pay and think “I want in on that” but then the government comes in and blocks them from building. No building = supply lower than demand which always equals higher costs
Further, It would only have taken you one 5 second search to see the ways government regulations can cause unoccupied apartments
https://www.google.com/search?q=in+what+ways+can+government+...
Please try again.
P.S. google "how many unoccupied apartments in nyc"
Which market are you thinking of?
Los Angeles? Where the homeowner vacancy rate is 0.7% and rental vacancy 4%?
If you literally weren't thinking of anywhere when your responded, where did you get the notion from?
[1] https://api.census.gov/data/missing_key.html +/- one percent