You forgot the real estate speculators that are trying to cash in on driving up prices into the sky, so that they can turn around and rent or sell these propert

You forgot the real estate speculators that are trying to cash in on driving up prices into the sky, so that they can turn around and rent or sell these properties at a massive profit to the people who are moving into the area. If you could eliminate the speculators, then the house price rise would probably be a lot closer to the income rise.