I’m have to admit I have mostly been on the other side of this argument. I agree with most of what they are saying, but I think it misses a key point. Housing prices tend to be based on being “close” to high paying jobs. But today “close” is measured more in time than in distance. An hour in traffic is an hour in traffic, no matter if you go one mile or ten. I think much of the problem is poor transportation infrastructure.
One of the best quotes:
Nearly all of the biggest challenges in America are, at some level, a housing problem. Rising home costs are a major driver of segregation, inequality, and racial and generational wealth gaps. You can’t talk about education or the shrinking middle class without talking about how much it costs to live near good schools and high-paying jobs. Transportation accounts for about a third of the nation’s carbon dioxide emissions, so there’s no serious plan for climate change that doesn’t begin with a conversation about how to alter the urban landscape so that people can live closer to work.