I'm curious people's thoughts about the housing cost political equilibrium/cycle idea. Here's the theory: Cost of housing is a major issue for voters. Home own

I'm curious people's thoughts about the housing cost political equilibrium/cycle idea. Here's the theory: Cost of housing is a major issue for voters. Home owners, especially new home owners, want their homes to increase in value to pay off their mortgage / get return on their investment, while non home owners want to be able to get an affordable mortgage. When most Canadian voters own homes (ie today), a politician causing house prices to decrease is political suicide. So the prices increase. The housing cost should keep going up until, due to continued immigration/aging of minors, the majority of voters do not own homes. Then at the next election cycle, policy will change, and housing prices will start going down again. Maybe immediately due to raised interest rates, maybe slowly due to kickoff of long scale housing development projects. The question is, are these forces the strongest influence on the housing market? or are there other market forces which disrupt the political equilibrium (and what are they)?