This is also the cause of the gentrification anger and resulting NIMBYism.

If you build some, but not enough vs what's actually needed, you get both:

- expensive new market-rate construction that most people can't afford

- localized bumps in rent for increased relative desirability

- overall prices that continue to rise across the city because the new construction was just a drop in the bucket compared to the need

And then it's easy to point to "they built that building AND our rent went up!" as a reason to oppose construction, even though in the long run they'd go up even more if that building wasn't built.