Housing is not ruled by the supply and demand wizardry. Housing is subject of infinite cash from fossil fuels, oligarchs, pension funds, dynastic family fortunes, and mortgage leverage by individuals already owning real estate. You build more, more will be purchased and the prices will still grow.
Occupancy is at record highs in most US cities. It’s simply too little inventory, mostly due to local regulations and NIMBY’s. Most housing is owned by ppl, and a lot of the nation’s net worth is tied up in housing, disencentivising the lowering of house pricing.
You could see it duting covid in NY, people left and inventory went up. Rent and housing came down.
Same now in SF, ppl leave, inventory goes up, prices come down.
It’s not that complex really. Solving it will not be easy though.
If you really want to help people, we need to drastically bring down the cost of living in cities through building more housing, then provide some unemployment or ubi to keep you afloat with your savings while you look for something worthwhile to do.