Land supply is fixed but land supply isn't the problem with rising rent. The problem is the number of flats. Toyko's rents didn't rise in the last decades but rents in a place like San Fransico rise because the government enforcing zoning regulations that prevent the building of new housing.
That could be because Japan's population and economy aren't growing much. In any case, even if rent isn't a good example, there might be other bottlenecks in the economy besides labor, so labor won't always win.
If it's worth saying, but not worth its own post, then it goes here.
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