Not necessarily. If the supply & demand meet at equilibrium for a commonly agreed price then added supply will decrease price. However, we aren't at equilibri

Not necessarily. If the supply & demand meet at equilibrium for a commonly agreed price then added supply will decrease price. However, we aren't at equilibrium as we continually see sales going for 500k-1mm+ above asking which implies that true price discovery hasn't been reached. With such forces still in play, it would only make sense to cater to the demand willing and able to afford such prices. There isn't any reason to be build low income housing despite the demand because the economic benefit to the builder and seller isn't there.