And yet, building housing units is the only way to lower housing costs. Every time a state proposes restricting housing construction limitations, some NIMBYs and those myopically focused on brow-beating corporations say, "rents will always rise, corporations will always jack up the prices! There's no point!" And those voices are proven wrong again and again.
It turns out, companies can't just arbitrarily raise the rent however much they want whenever they want. Corporations aren't magical evil genies. They can only raise the price to what the market will bear. And that rate is entirely dependent on the ratio of housing units to households.