Realistically, all that building is not going to happen overnight, and likely it'll only be enough to stabilize prices, rather than radically drop them.
Indeed; my point was more that even if we decided to build so much new housing that prices fell by half, it still wouldn't bring us anywhere close to Paris, much less Manhattan or Hong Kong.
Since realistically we're probably not going to do even that, fears of Manhattanization are completely unfounded.
