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> This is pretty much the crux of it. High housing prices could be "fixed" almost overnight

This is a crazy thing to state with almost no justification. How could housing prices be fixed overnight? Please don't say "zoning changes." Plenty of places without zoning issues have really expensive real estate.

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What's an example of a place without "zoning issues" with really expensive real estate?

NYC

high enough property tax.

Wouldn't that make homes less affordable and increase rents?

it will make houses less attractive investment vehicle: people will start selling rental houses and downsize to smaller units, which will create additional supply on the market.

Also, in case of California for example, if prop13 got eliminated, it will hit mostly existing house owners, and not new ones.

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