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The general phenomenon is well known to those who study this kind of thing, but yep, building housing of any price helps reduce costs overall:

Depends on if people live in it or buy as an investment and leave it vacant or air bb as often happens in London

Not really since those people would otherwise some different existing property to do the same thing with.

	▲	nothercastle 3 minutes ago \| parent [-]
		I’m not going argue that that basic Econ does not indicate that this should help a bit with housing demand. The question is how much and is it really worth loosing a public institution for. The marginal utility for the general person of a public market seems higher than that of a couple extra housing units