I'm not sure if there is any policy that would lead to everyone being able to afford the same amount of real estate as if it were 30 years ago. That's just impossible given the context and population growth.
There are a ton of people who are interested in living in densely populated big cities but the issue is that there isn't enough high rises or tall residential buildings to offset the demand.
There's definitely policy that could be done but it'd destroy the existing value for homeowners and landlords. That's why it doesn't get passed - obviously.