>>510116072The supply is artificially constrained to inflate real estate values. This benefits the homeowners as it increases their equity, and the massive companies like Blackrock for obvious reasons. Because Boomer homeowners and trillion dollar firms hold most of the power in the US housong market, there's no incentive to significantly increase supply. Any change would have to start at the local level with the zoning laws and infinite building codes that prevent a lot of home construction.
The other option is massively decreasing demand by deporting tens of millions of immigrants, which is also nice.