Housing in fast-growing cities is expensive for a reason that is easy to state.
Demand grows every year while is fixed by planning rules.
Saying it is easy; changing it is not.
Existing owners benefit from and vote accordingly.
New blocks are on grounds of traffic, schools and character.
Some of those objections are genuine and some are a .
Cities that did build have seen rents within a few years.
Cities that did not have seen households move an hour further out.
Commuting cost then replaces rent, and the household is no better off.
housing helps the families it reaches.
It does not change the total number of homes available.
Supply and subsidy are , not substitutes.