Are you implying that landlords are naturally incentivized to build homes? Because in most circumstances, the exact opposite is true. In the U.S., the government has a number of programs that offer landlords vouchers in order to encourage them to build out more homes.
I was not conflating the two - I literally meant that there are incentives in place to encourage landlords to develop new homes. I am not referring to groups whose primary interest is to develop and sell - but to develop and own.
I know a lot of landlords think they are a persecuted class that is providing a necessary service - but that largely isn't true.
Broadly you can imagine two scenarios for simplicity sake.
1) Housing supply is abundant. Landlords have to compete on service superior maintenance, better units, better locations, etc.). Renting a home behaves like any other service industry that we come to know and love.
2) Housing supply is constrained. The situation plaguing much of the modern world. Land is limited. Landlords earn a higher IRR from jacking rents than they do from buying additional units. The landlords profit from control of the access to a scare resource rather than from providing anything of value.
