If 1 million people live in a city, and you add 10 million more apartments, would that lower the price of each apartment? Of course, because you increased the supply. Adding housing absolutely decreases the average price of housing. This is supply and demand.
Now, does adding a small amount of housing have any appreciable effect on average price? No.
Therefore, the solution is massive construction of new housing.
Now, does adding a small amount of housing have any appreciable effect on average price? No.
Therefore, the solution is massive construction of new housing.