Also, while it's true there may have been too much immigration in a short time, that's not a primary reason for housing costs rising. Asset prices are going up because homes are treated as an investment. At least according to graphs in this Breach video, there's been no correlation between immigration and housing costs.

Economist Gary Stevenson has outlined many times as well how homes increasing in value for an extended period of time can actually be seen as a precursor to a shrinking middle class, though middle class people often don't see increasing pricing as a feature of wealthier buyers out-competing them.