The only direct variable which has an inverse relation to the vicious cycle is the property tax rate, as higher property taxes increases the effective price for

The only direct variable which has an inverse relation to the vicious cycle is the property tax rate, as higher property taxes increases the effective price for property ownership. In California due to Prop 13, the property tax rate (of ~1% of the initially appraised market value of the home) gets negated by inflation, and it's further countered in regions such as the Bay Area by the sustained increase in demand from the influx of residents and higher wage growth.