I think you literally proved his point. It’s because capitalism that developers only build profitable properties. They will not build anything that devalues their own portfolio. That’s just capitalism for you.
I did not say 'capitalism evil'. It has its strong and weak points.
It is just that enlisting everything and everyone on the planet into a pure financial model that can be leveraged for rents and speculaion is what it is about.
Why aren’t you and GP out there building houses for a loss? None of the people complaining about capitalism ever actually practice their own ideals.
Anyone is free to start a non-profit org that builds homes and you can still cut yourself + employees a salary.