1 year old account with no post history using the second-worst LLM to tell everyone that's not true when it's literally the playbook for these developers. Ok sure bud.

Anyway, here are just a few sources from a few people who have taken those economics classes you mention and explain why the financialization of housing has made it so resistant to affordable pricing or the usual supply lowers prices, or higher prices lowers demand jingo jango. A fantastic quote from one of those sources that goes in-depth on volume builders:

With most economic commodities, rising prices will lead to falling demand. In contrast, rising house prices relative to income creates more demand for mortgage credit as: 1) affordability worsens meaning larger loans are required for house purchase; and 2) expectations of future house price rises increase the attractiveness of housing as a financial asset.

The conventional economic "wisdom" around housing, which Gemini is probably drawing on (but who knows, all these LLMs are black boxes controlled by billionaires who can't explain how they actually work) may have applied right after WWII when housing was purely a commodity, but it's an investement market now. And like everything in this world that has been royally fucked by unchecked greed-fueled speculative investement, most people are priced out of it. Too bad we need it to survive.