I like to think of it as the induced demand problem, but for housing instead of highways. If 1000 new NYC condos are built, it will induce demand to live in NYC

I like to think of it as the induced demand problem, but for housing instead of highways. If 1000 new NYC condos are built, it will induce demand to live in NYC rather than reduce the cost of NYC housing. Some say more people living there is a good thing in an of itself but they are going to be disappointed if their real goal is lower housing prices. It's just like highways. Adding another lane will increase throughput which may be a good end by itself, but it will never cure traffic.