In the UK we could basically fix this stuff overnight by just building council houses on a trivial amount of the green belt and bringing back the idea that everyone just gets a family home. It won't happen because we have a broken political system.
But I also think a major pressure relief valve would be somehow eliminating this idea that everyone has to live in SF/NYC/London/etc.
It just doesn't make sense on any level. We can't just have every part of the world outside of a few capital or capital-like cities turn into an economic wasteland.