How would induced demand work for housing? I understand it for say transit use or car travel or like Facebook visits, but when there's twice as much housing do I... buy another home? Buying extra houses as "an investment" in a culture that is hell bent on depreciating my investment by building more housing is one of those "r/WallStBets" crazy plays, if I'm wrong I will lose my shirt and everybody will laugh at me.

Also, even if that were a problem, which seems dubious, you can regulate it. Massive tax hikes for second and subsequent homes are a thing in some places.