A massive investment in council housing would fix the problem. When it was announced in Hong Kong that they would build ~70,000 new apartments prices plunged th

A massive investment in council housing would fix the problem. When it was announced in Hong Kong that they would build ~70,000 new apartments prices plunged the next day. Eminent domain could be used to seize land and develop affordable housing. It would be fought tooth and nail in court by property developers but they couldn't possibly argue that providing more affordable housing isn't for the public good (though they would try). Against strong enough political opposition they would lose. We've been here before. After world war 2 there was a program to build affordable housing in New York for returning vets. If we did it in 1945 we can do it again. The property market isn't a god to be appeased and it shouldn't be treated like one.