If this even worked in the short-term (and so far, no city that has tried this has been successful in making a meaningful dent in the problem), you'd just be delaying the inevitable, and once that inevitable hit, the affordability problem would be even worse.
You can't increase housing supply without affecting demand. You also can't increase housing supply to meet demand ... unless you actually make the area so undesirable that demand itself drops, meeting you halfway.
You can't increase housing supply without affecting demand. You also can't increase housing supply to meet demand ... unless you actually make the area so undesirable that demand itself drops, meeting you halfway.