Political factors can also inform supply, it doesn’t change the fundamental calculus of supply and demand, merely shapes the supply.

If you have a bunch of left wing groups who are anti-development fighting to keep supply constrained even while complaining the rent is too damn high and the character of the City is changing and yadda yadda yadda, who are you[1], as a landlord, to take the wind out of their sails when you are profiting from their protests?

[1] The general “you”, not you specifically.