This is capitalism's vast irrationality and inhumanity in action. Markets and The Economy™ matter more to capitalism than the concrete distribution of resources according to tangible human need.
Resources exist in abundance -- give them to people. Housing sits empty -- give it to people. The rules of the feast table should apply to our economic system -- no one gets seconds until everyone has gotten a plate.
We stand at a crossroads in these chaotic times: socialism or barbarism! The ruling class repeatedly chooses the latter. We need to organize and choose the former!
John Steinbeck, The Grapes of Wrath
Wait... isn’t the price supposed to go down when supply is way higher then demand? Isn’t that what the whole supply demand curve thing is all about?