No it’s not. That’s why you have houses and apartments for hypothetical millionaires going empty because no one can actually afford them. As long as homes and real estate have speculative value there is no guarantee that “supply” will positively affect prices or affect them enough to provide housing for everyone.
The simple fact that there are more empty homes and apartments than there are homeless people disproves your premise.
Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not. ( gothamist.com )
cross-posted from: lemmy.crimedad.work/post/12162...