I think step one would be to fix our zoning policy and step two would be to incentivize construction of low margin high density housing. This isn't to say that single family homes should go away just the they shouldn't be the only option.

Hike property tax and you'll lose the mayorship. But that's the way: make the comically-inefficient mcmansion-with-hoarded-greenspace something only the super-rich can afford again.