I know that's how it currently is, but that's in large part due to limits on how many of those kinds of buildings are allowed to be built (and where).
One has to weigh the probability that (1) said limits are removed and (2) when they're removed, it makes a sufficient difference in prices against being permanently priced out. A house now, or a 5 million dollar apartment for 500k (both figures inflation adjusted) in 50 years? People wouldn't be foolish for going with the former if they're not rich.