The problem with housing and its price is rising and there is no control over it.
We have to make sure we get a house once in our lifetime and rent it as well. Renting is often a good source of making the money back. But this will be difficult for some most types of work cultured people.
The housing bubble will collapse at one time, but how, I cant say.
I remember watching India tv conclave early this year or maybe last year. They invited some big shot builders, like from Lodha group/ Hiranandani for a panel discussions.
According to them, on paper every centre government and state disincentivize affordable housing (regulations, land acquisition etc) and that's a big problem because of this we face inflated price range in the residential sector and builders only focus on luxury segment which mostly caters ultra rich and aspirational class with some money in the pocket.
It generates shitload amount of revenue for every stakeholder so its a status quo and at times, pampered sector. Poor/lower-middle class has no say in it.