Why do we need to lower our expectations now? Single family homes are what most people want. Why jam people into apartments if they don’t want to live in them? All houses should be cheap imo - it is just a few cheap sticks and some plastic after all.
Some cities obviously have no room to expand so the only option is higher density. Where that is not the case, build single family homes en mass until anyone can afford one. I’m a home owner now but would rather see people be able to afford what they want than to see my own 2x4s appreciate.