[SoftTalker]

Yes but at some point the fixed costs of a vacant property are going to outweigh the extra income earned from higher rents on occupied properties.

A vacant property still has to be insured, maintained, heated/cooled, taxes paid, mortgage or commercial loans paid.

So if the supply is high enough that landlords can't afford to hold enough of them vacant to maintain high rents, they will eventually have to rent more of them.