Yes, as we can see from the very great examples of where this approach worked perfectly. Now every one is perfectly housed in decent conditions and for cheap in United States or South Korea. We all know the dozens of thousands of homeless folks in San Francisco and around really want to live in slums or on the streets, and their situation has nothing to do with speculation, gentrification and AirBNB. /s

That's not how it turned out in the UK. As this graph illustrates, when the local government authorities were prohibited from building more housing, from the 1980s onwards, the private sector didn't pick up any of the slack: https://i.stack.imgur.com/MmJ5N.png

The capitalists instead decided to optimize for steadily increasing the price of housing by restricting supply, so these are now primarily seen as an investment with nearly-guaranteed returns, rather than places for people to live.