&gt;About 20 years ago they began densifying like crazy. 2-3 story houses for 8 people became 8-floor apartments and studios. And you know what? Rent is higher than ever! Everywhere!<p>So developers started building houses, which caused more people want to move there and rising rent prices? You sure you have the right cause and effect there? It sounds like 20 years ago demand for housing prices started to rise and the supply never kept up.