I mean, it's pretty clear that most of their housing policies are nonsense. Unless they have a plan to convince developers to crater their own profit margins by overbuilding, there isn't a lot that's going to happen on the supply side. But complaining about housing costs is good politics, so they'll keep doing it.
But housing costs move in cycles like everything else; we just happen to be right near the most expensive point of the cycle right now as interest rates have increased the cost of buying but haven't totally worked their way into selling prices yet. The idea that any government is going to dramatically alter housing costs isn't backed by any kind of real evidence. Particularly since improving affordability requires devaluing existing properties. And doing so so in a short period of time means putting tons of people financially underwater. But I don't really see anything structurally that makes right now fundamentally different than prior peaks in carrying costs relative to income and I expect we'll see a return closer to the long-term average in coming years:
