1) It's essential for basic survival. Humans can't live in the sea.
2) You can't make more of it. Land that exists was created millions of years ago by powerful, continental scale geological processes. We can't create a new continent.
If a greedy individual buys all the toilet paper in a store, I can shop at another store, or order from anywhere in the country, or even overseas if needed. And someone can always decide to create a new company to make toilet paper and undercut the hoarder, though it might not resolve the short logistical problem.
Overall, I think one of the least bad solutions is to centralize zoning powers in a national government, weaken zoning as much as possible, and let the free market do its thing. For example, don't let someone build a chemical plant next to a residential area, but allow developers to build any residential housing they want, without interference from local owners. If a property developer wants to erect a condominium tower in the middle of a suburb full of 1-2 stories single family homes, they should be allowed to. Even if it depresses local home values. Even if it brings more traffic. Even if it blocks the view. Even if it compromises the "character" of the neighborhood (which is almost always code for white and well off). And, yes, it's a denial of local democracy, but it's the right thing to do.