You are wrong, look what ie France is doing with its housing market. No bubbles since it highly demotivates speculations and corporate mega-investments that move markets.

There are tons of tools any state has to motivate or demotivate markets. Taxes, rules on primary, secondary and investment residence ownership, same goes for rents etc.

I tend to see a clear pattern here, just like in other topics - folks who are profiting from current situation by already owning see nothing wrong - in contrary, market forces in effect etc. The more the better.

The rest not so much, ie younger generation thrown in the world where they probably will never own their residence, which can be pretty infuriating compared t situation say 20 years ago. There aren't that many more people to explain this. But the move to consider housing more and more as a speculative investment rather than commodity is definitely out there, everywhere.