There is discussion of reducing demand, primarily by attacking the tech industry. Example: https://www.theguardian.com/technology/2016/sep/02/palo-alto...
Obviously, implementing such a policy at such a regional scale has major side effects, both on the tech industry and on America. The jobs and people have to go somewhere, and we are already exporting our housing crisis to other tech cities (Austin, Seattle, Portland) at an alarming pace. Eventually this will become a national problem.