Rental growth is driven by multiple interconnected factors beyond just supply and demand, including economic growth, wage growth, inflation, and the relative affordability between buying and renting markets, meaning oversupply of apartments or houses is only one of several contributing factors to rental market dynamics.
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I still want to say that supply and demand dynamic is just one thing contributing to rental growth. Rental growth actually is related to many other factors such as economic growth, wage growth, inflation, and the relative affordability between sales market and rental market as well as many other factors. So, when we are talking about the oversupply of apartments or houses, that's just two of the factors that are contributing to rental growth.
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