If only one city does this, I would agree. But, if cities around the country do this, and up-and-comers build as well & compete to get in the game as new employ

If only one city does this, I would agree. But, if cities around the country do this, and up-and-comers build as well & compete to get in the game as new employment hubs, that changes things, as demand for housing at a national level is not that elastic due to population size.