You need to break the positive feedback loop of historical house price appreciation -> more buyers as "investment" -> more house price appreciation -> more buye

You need to break the positive feedback loop of historical house price appreciation -> more buyers as "investment" -> more house price appreciation -> more buyers... High interest rates can do this once affordability becomes almost impossible that there are no more buyers. Prices fall, lower interest rates to stabilize, just keep adjusting interest rates to keep a level price. Then price and monthly payments will equalize to a reasonable premium on construction costs.