In this event, there's clearly a demand, so developers can build parking garages. What we do now is make the costs of parking invisible by putting it in everyone's rent (even those who don't own cars), instead of letting people show how much they want parking via their willingness to pay for it.

I live in an apartment with no parking. However, some people in my neighborhood like having cars. Fortunately, the solution is simple - they pay for monthly parking at the garage around the corner, and I don't subsidize people's parking in my rent.