Perhaps it is time for the 100 year mortgage. That should allow sellers to ask higher prices and still be affordable to many buyers.
I remember when I bought my first house in the early 70s. My father and grandfather thought I was crazy for taking out a 30 year loan. In their opinion 15 years was the max one should commit to. Of couse these were the kind of people who would save until they could pay cash for a car and never borrow money for one.
As it turned out that first house and others I bought later were some of the best investments I have made. Like the stock market real estate goes up and down but the overall trend over time is up.
I was joking about the 100 year loans but I wonder. At one time 30 year loans were considered irresponsible by many.