Not entirely, the major factor is banks' credit creation. When any person can go and take a loan that was created from nothing (literal digits created by your b

Not entirely, the major factor is banks' credit creation. When any person can go and take a loan that was created from nothing (literal digits created by your bank), and sometimes based on another "speculated value" of a house you own, you will flood the market with an exponential rise of demand that will ALWAYS be higher than the supply. To solve the housing issue you have to follow the root cause, and always follow the money: first, halt credit creation, disincentivize it (ban interest), no speculation values. Second, make housing a depreciated asset, like cars, etc. Without these two, housing markets will never be solved. The thing is, the government knows that, but it's in its interest to keep the prices up, because that will mean more paid taxes! Which is why they fought WFH and created this hybrid model, to keep people around urban areas and keep prices up. I think Canada even admitted it later -I remember I read it somewhere. It's a multi-dimensional issue and the only losing party here is the average middle class person.