You're assuming a fair and rational market. These clowns are actively rigging the market. My city has very high commercial rents despite less than 50% occupancy with two feudal dickheads running the show. Businesses are having to close left and right. Apparently the banks will get mad if values drop and the the whole market will collapse, and that's apparently "bad", despite this being exactly what should happen in a fair market, and exactly what we need. It's insane how much we've allowed these assholes to derisk.