"I can’t tell you how many people were like, ‘Oh, look at all this supply, look at all these just brand new buildings,’ and kind of scoffing at it like this was going to lead to gentrification or rents skyrocketing,” said Minneapolis Mayor Jacob Frey, a two-term Democrat, in an interview. “The exact opposite has happened.”

This is one of those “well duh” moments… Obviously more supply leads to lower prices. This is Economics 101!