For everyone else, we are in desperate demand of 'inner city high rise'
https://www.strongtowns.org/journal/2021/7/13/housing-scarci...
In short it will take a decade or two of building to make a difference to those living in tents.
Also living in tents often implies other issues. More housing will not solve anything if your real issue is serious mental illness. There will also be a few people living in tents/on the street because their reason for living in tents is not related to the cost of housing. Building more housing will make a difference to those who's problem is housing is too expensive, but it can't help those who's problems are not high cost of housing.
You can have increased density with mandated affordable housing without needing high rise developments.
* Clearcut wilderness to build more suburban homes
* Don't build more homes, just stuff more people into existing homes
* Let the excess population live in cars or on the sidewalk
* Cull the excess population
It's also more efficient greenhouse-gas wise, as suburban sprawl means more driving to transport goods.
Now that Hong Kong is reunified with the mainline (since 1997 IIRC) they have been building out to the mainland. Of course when your city is land constrained there is no choice but to build up.
That's not really the end of the story though, anyway. As long as the price per square foot is still higher, it could make sense to keep building up. At a price of, say, $2k per square foot in Manhattan, if your costs are $500 per square foot for five storeys, vs. $1k for ten, the former earns you $(2000-500)*5 = $7500, while the latter earns $10k per square foot of land, so obviously it's better to build the latter.
And 'affordable dystopian' housing? Only 20% of the units are required to be affordable. Who knows what private developers will come up with to maximize their profits. So, dystopian? Probably. Affordable? Just a little.
Not-so-poor people playing a game well that results in massive benefits? A mere distraction.
>Build enough and all houses are affordable.
There are more vacant units in the US than homeless people. There is some nuance in how the market functions - it happens to be profitable for large private landlords to set prices higher. The market does not exist to optimize the number of people who have housing, it exists to optimize the amount of money that landlords can make.