As others have mentioned the solution is to build more affordable housing… but where?! More unaffordable houses won’t solve the issue.
I think decentralization of work (WFH) will counter it in the long term. If you can work from anywhere then your housing options become limitless. I’ve lived in the country the last 15 years - absolutely no way I’ll live in pricy cities.
That said, people in the service industry will continue to suffer - I’ve heard of people commuting hours each way for work! Service industry and cities for that matter will have to get into real estate to provide community (I hope not dorms or projects) for workers.
I think the “decentralization of work” will only lead to large scale improvement if it also comes with decentralization of other needs as well; having social, cultural, and other needs met outside of large cities.
The decentralization of means that I could live in a flyover state or much more rural area, but there are many things one would still lose easy access to. You’re not going to convince most people to move to a food desert with unreliable internet, a 45 minute drive to the nearest grocery store, and 2 hours from the nearest airport just because their job is decentralized now
I think decentralization of work (WFH) will counter it in the long term. If you can work from anywhere then your housing options become limitless. I’ve lived in the country the last 15 years - absolutely no way I’ll live in pricy cities.
That said, people in the service industry will continue to suffer - I’ve heard of people commuting hours each way for work! Service industry and cities for that matter will have to get into real estate to provide community (I hope not dorms or projects) for workers.