One way to solve this is to lower the supply of labor. This has to be done very aggressively to work though, such as the following: - massively reducing immigrant intake, especially outside of the top-tier paying fields - legislate dramatically reduced working hours, i.e. 3 8-hour day workweek or similar, providing exceptions only at very high salary ranges

Of course, as what we've seen during the past year in the US, this is going to create high inflation.

The other method, which I much prefer, would be to lower the cost of living, while only modestly limiting immigration and working hours (still need to be reduced compared to current levels). By far the easiest way to do so would be popping the housing bubble, Japan-style, by building tons of extra housing and bankrupting private equity groups gobbling up houses, which would release further housing on the market. Perhaps a government agency can buy up some properties to rent out at a breakeven price.