It may not be a construction problem, but it is also not primarily a housing policy problem. I see this argument time and again. But mostly this is just not the issue. In most places in the world housing supply far outstrips demand.

I say that as an Australian, where despite reasonable laws and ample land, we have some of the most expensive real estate per income in the world.

The issue is banking and tax law, which should weigh heavily on real estate capital gains, heavily on speculation and heavily on empty lots or tenancies. But go easier on rental income and losses.

These same arguments about nimbyism and building just have the effect of dividing and conquering, while carefully avoiding scrutiny of the real issue.. finance.