Singapore has a pretty good solution for this sort of thing. Socialize Housing (https://en.wikipedia.org/wiki/Housing_and_Development_Board), and then drop 10s of thousands of new units onto the market continuously, subsidize citizen ownership (with further subsidies if you live close to your parents), and further, create a culture of constantly wiping out the older (20-30+ year) apartment blocks that were lower density, and replacing them with taller, higher density buildings. (https://en.wikipedia.org/wiki/Selective_En_bloc_Redevelopmen... )

Pricing has stabilized, and, even is dropping a little bit.