> Housing is too expensive because it's illegal to build enough of it.

A lot is being built. The problem is ruthless cost extraction, parasitic chain of agents and agencies, and oftentimes real estate is the only investment vehicle free of capital gains tax. Have you seen what is being built everywhere from Australia, through Europe, to America? 20-30 sqmt apartments where you walk in straight to the kitchen and sleep next to the oven and dishwasher, if the place is even large enough to fit the full kitchen.