[everforward]

How does it not reduce demand for land? Eg right now if I wanted to live in one of these places, I virtually have to compete to buy a plot of land that I alone own.

With high density housing, me and another few hundred people who would have been demand for land can instead buy condos or rent apartments and share that plot of land. Our demand was satisfied for fractions of a percent of the supply it would have taken with low density housing.

Ie high density housing efficiently uses land, thereby reducing demand for it.

Some areas will be gentrified and be worth more. If I were going to guess, the downtown core will spike in value and the suburbs will have to drop in value to compete with the affordability of downtown living.

I suspect a lot of people would live downtown instead of the suburbs if they could get a 2/3BR that wasn’t 4x the cost of living in the suburbs.