The only real factor here is supply/demand. There are no good ways to control demand, so the only solution is to increase supply. Here are some ideas:
* Get rid of anti-dorm laws. There are laws in a lot of places that limit dorm style living by limiting the number of unrelated adults who can live in the same residence. However, this is the most economically efficient living situation.
* Change zoning. A lot of cities have most of their residential land zoned for single family only. Just change everything to multi-family. Remove requirements like having to conform to the character of the neighborhood, having to build parking spots per residence, having to have increased height based setbacks, needing to have a certain amount of land reserved for green space, etc.
* Remove construction limits. A lot of places have a building plan where they only approve so much building over a period of time. Just say yes. Change to a "shall issue" model, where the government needs an affirmative reason to deny a permit and has to do it within a certain time period for certain well-recognized reasons.
I'm not saying that all of these are good ideas. There are problems with all of them. And all of them will be unpopular.
But they should all increase the supply of housing. Which is the same thing as decreasing property values. Which is why they're all un-popular.