Interestingly, building new houses won't necessarily make prices go down, as we'll all just compete for the more desirable ones, and pay whatever we can afford

Interestingly, building new houses won't necessarily make prices go down, as we'll all just compete for the more desirable ones, and pay whatever we can afford to 'get ahead of the Jones'. It might mean that the quality of what we end up living in is better though as the rubbish houses get left unfilled. Anyway, the problems is not so much that there is not enough housing, but that it is on the wrong place.