Prices move in accordance with demand as much as they do supply. Outsized demand creates inflation because "too much money chasing too few goods."

For example, we have enough housing in Denver to keep up with inflows now (didn't used to be that way), but the difficulty in obtaining an affordable mortgage is reducing demand, which in turn reduces the prices of houses for sale. That is plunging demand affecting the sticker prices of homes for sale. See how changes in demand can change prices now?

If liberals in LA and SF and NYC (the bastions of progressivism) can't pass higher taxes on the rich then they might as well just come out and say "WE'RE ALL FUCKING HYPOCRITES HERE." Like I said, climate change legislation and gun control legislation are very unpopular public issues as well, but that didn't stop California and NY liberals from fighting tooth and nail against rich people to get those laws passed. But wealth inequality and taxing the rich is apparently too tough to tackle. It's time for LA/SF/NY liberals to admit they have a decadence problem and are the principle causes of the wealth inequality they refuse to address. Those same liberals would make those same arguments about conservatives when it comes to gun control and climate change leg. They're too scared to point the finger at themselves on wealth inequality. Hypocrites.