Prices go up, until new supply comes online or demand wanes. Econ 101 is not invalidated just because you are having to go without due to high prices.
Some supply and demand curves move in days, some in months, some on years.
Some supply and demand curves move in days, some in months, some on years.
That said, even though we might have to wait years for new supply to hit there market, we probably don't have to wait years to see signals of that. We will likely know that manufacturers are starting to build new supply long before we see the chips hit the market.
Even if you started a new fab today, it's 5 years till it comes online. The great hope here is that China's DDR5 yields represent a high reject rate of an enormous amount of new capacity that they'll dump into the market to get a sovereign capability in that area.