In a free market yes, but not in a speculation market that does not respond market demands (combined with macroeconomic mechanisms and manipulations from the Federal Government). Going beyond simplistic supply/demand, high speculation markets have constrained economic growth, and many governments, such as HK or South Korea, have taken measures control it as well. It's not that the cost in the area rise, but also startup cost for new enterprises becomes to high, making it difficult for startups and new innovations they create.