Destruction of wealth would be bad since that would impact everyone (homeowner or not). I would opt for wealth transfer. Build more housing! Once the demand dec

Destruction of wealth would be bad since that would impact everyone (homeowner or not). I would opt for wealth transfer. Build more housing! Once the demand decreases the price will decrease. This also solves another fundamental problem: we pretend that there are X houses and X people that need a place to live. In reality there are more people than houses. Way more. Build more houses. Build high density housing. Stop treating housing like some sort of holy grail investment.