This seems to be a seperate issue than ROI.
If you need can afford a house but it take 30 years for a return, then most people are still happy.
Inversely, If it is a 10 year ROI, but you cant afford it, they are unhappy.
If you look at the US housing market of the last decade or two, the issue is closer to the 2nd case than the first. Base price is out of reach for most, but those that get have a excellent returns.
I was extremely jealous when I couldn't by a first house but my friend who could pay 1 million did so, only to sell it 2 years later for 2 million. He did it again and now his current house is in the 6-8 million range, and I'm just getting in the market.