Much of the narrative has been that the problem is because nimby boomers won’t allow apartment complexes in single family neighborhoods, there are simply not enough apartments.
This is oversimplified as an attack on the image of an enemy. Most people work hard as hell to call a place home, and understandably don't want their community "ruined", the definition of which they have variably (un)reasonable metrics for. That's the complicated truth. Yes, people also don't want things to change in general from the moment they called it home, but change isn't the same thing as "ruined".
No, the problem is that humans breed to fill the supply of housing, causing prices to go up again. The population of the U.S. has doubled since 1960. It’s a never ending cycle, only after every iteration, there is more pollution, less beauty, more greenhouse gasses in the atmosphere, more traffic, etc. It’s not sustainable. The solution is not to build, it is to reproduce sustainably and stop overrunning the planet with unchecked population growth. That implies limits on how much you can ruin a neighborhood with development.