Perhaps your argument is that, with lots of new housing built in NYC, prices drop in NYC and Tulsa, but consumers of housing are not necessarily better off because (for instance) they might be “forced” to move from Tulsa to NYC, making them less happy than they would have been otherwise, despite the lower housing prices in both cities.
But that’s a completely different argument.
That is my argument. That’s the whole point! I just also don’t think that it means prices necessarily go down in Tulsa (because people leaving for NYC shows up mainly as less construction, and prices in Tulsa are pinned to construction costs there) or necessarily go down significantly in NYC (because the price changes involved may be very small, or maybe there’s just reduced friction for companies moving because of new construction rather than an actual price decrease).
That is my argument. That’s the whole point! I just also don’t think that it means prices necessarily go down in Tulsa (because people leaving for NYC shows up mainly as less construction, and prices in Tulsa are pinned to construction costs there) or necessarily go down significantly in NYC (because the price changes involved may be very small, or maybe there’s just reduced friction for companies moving because of new construction rather than an actual price decrease).