Won't that just mean less investment in new housing, so over time less housing stock, resulting in (delayed) price rises and more people excluded from the housi

Won't that just mean less investment in new housing, so over time less housing stock, resulting in (delayed) price rises and more people excluded from the housing market. I mean in general the only possible solution is more housing ... which would mean 1) zoning up neighborhoods 2) make it financially interesting to convert properties and make them denser