Ironically, the Argument just a few months ago ran a long and well-researched piece on how the housing market isn't for parents --- in many rental markets, there are policies that lock out parents, particularly through permitting processes that favor developments for seniors while icing out any other developments.
https://www.theargumentmag.com/p/no-country-for-young-famili...
Meanwhile, a really important dynamic to keep in mind is that in most inner-ring suburbs in the US, the primary driver of home values (and of property taxes) are school systems. If you don't actively enact policies that work against the dynamic, you get trapped in a spiral of increasing prices, in part because parents can bid up prices and suffer them only for the span of time their kids are in school --- "renting the schools".
When people pay higher rent while their kids are in school and compete with FAANG software engineers, isn't that the market working?
Both groups could live somewhere else, but don't.