One thing worth noting is that UBI actually has an impact on supply,.
What people want to purchase is not simply housing - it's housing in their preferred location.
I think a big part of what makes housing desirable, for the bulk of the population, is ability to earn enough of an income nearby. If that's the case, UBI might actually directly create desirable housing (out of almost desirable housing) and increase supply.
I don't expect this effect would be large enough that UBI would put downward pressure on housing prices overall, but I don't really know.
Imagine a unit of housing, presently empty because it's undesirable, because there are no good job available nearby. There are some pretty good jobs, but none available that pay quite enough that competing for housing elsewhere isn't more attractive to the marginal consumer.
A UBI makes the pay matter a little less, and so makes places like that more attractive.
It doesn't, first order, cause more units to be built. But that is not the only way to increase supply.
Longer term, that kind of calculation about potential units, in places where it's easy to build, might lead to more units built. But that gets more complicated.
What people want to purchase is not simply housing - it's housing in their preferred location.
I think a big part of what makes housing desirable, for the bulk of the population, is ability to earn enough of an income nearby. If that's the case, UBI might actually directly create desirable housing (out of almost desirable housing) and increase supply.
I don't expect this effect would be large enough that UBI would put downward pressure on housing prices overall, but I don't really know.