If basic homes become unattainable for the working class and the middle class -- teachers, nurses, construction workers, etc. -- we either have to raise wages so folks can afford the new prices, or drop house prices back to a reasonable level.

I guess it's a race between "rent-seeking folks who own investment properties" and "people who actually want to live and work in a community." Should be an interesting battle -- while the rent-seekers surely have the most lobbying power, literally everyone needs a home.