I have said that for years. No one listens.

From Harvard University Gazette (link to full article below) on affordability crisis;

see below on why City's 30% density bonus doesn't reduce costs or spur development;

I've said this multiple times but maybe coming from progressive/liberal Harvard will carry more weight.

“To the extent you’re giving me greater density, I may be able to get a better value of land.

The challenge is that the land’s value is based on how many units you can put on it.

And so, if you tell me I can put two units on it,

and the land was worth, say, a million bucks, and then you say,

“Now you can put 10 units on it.” That’s $100,000 a unit. I just saved a ton of money.

But as soon as you tell a developer you can put 10 units on it, the developer says,

“I’ll pay 5 million bucks for that piece of land.”

So, you don’t get as much savings from the density.- Havard Gazette

All the value of a density pop tends to go to the landowner, doing nada to reduce the cost of development.- NSC