I prefer to think of it as either unmet or unsurfaced demand. It's easier to think about the two places where "induced demand" shows up in arguments: traffic an

I prefer to think of it as either unmet or unsurfaced demand. It's easier to think about the two places where "induced demand" shows up in arguments: traffic and housing. For traffic and housing there's tons of people who would drive more or live somewhere dense if more roads/housing were provided. The big difference is whether the demand is exhaustible. For roads it's not: you would have to pave all of LA into a freeway system to eliminate traffic. Housing might be different though. Densifying the region around the downtown could outpace the influx of people. The difference is whether trying to exhaust the demand leads to a pleasant collection of neighborhoods or a 60-lane freeway hellscape.