My point is that increase in the housing part of the cost of living is directly tied to the wealth created by the extremely relaxed mortgage lending environment

My point is that increase in the housing part of the cost of living is directly tied to the wealth created by the extremely relaxed mortgage lending environment of the last 15-20 years. If that debt were extinguished, house (and rent) prices would be lower for a relatively large population, and wealth would be destroyed for a relatively small (but powerful) number.