Housing is more complex than a simple supply and demand chart especially one with straight lines. Every product is like this actually.

Low housing supply actually increases rents.

It’s like that economist logic that giving money to everyone would make everyone poor, if everyone had a house everyone would be homeless, and if everyone had shoes we would all have to walk barefoot.
You don’t need to control rent, though, just control hoarding.

Who makes an annotated graph like this in the shower?