I'd not blame QE+low interest rates for this, because the problem is not national, but limited to very few markets. Almost anyone can afford a house in most US cities. Changes in QE wouldn't magically change demand in SF and NY.
When we look at SF, what we see is a city that has A LOT more people wanting to live there than there are houses: Heck, I'd move there if the prices weren't insane. Investors/speculators are just a sliver of demand, and they only invest there precisely because the real demand to live there is that high. When there's high demand, and no increase in supply, prices go up to the levels we see now.
If the only people that wanted to buy a house in SF were software developers, prices would still be high, and we'd have enough of those that we'd see prices go up so that mortgages are about 50% of household income, just like in every other place, ever, that had high demand. And guess what? that's the current prices already.
So while I am sure the fed would be able to lower prices across the board by doing something that craters the economy, housing prices in desirable places to live are not the problem.
As far as retirement goes, it doesn't really matter if you own a house, or the equivalent in stocks. I can't tell you if you are saving enough, you are living beyond your means, or should just move somewhere else, as I have no details in your situation. All I can say is that it's a wonderful time to be a software developer in the US, economically speaking. It's pretty possible to work remote or at a satellite office of a big tech employer and save crazy amounts of money.