You didn't mention increasing density by constructing more and larger buildings, which would help a lot and is a lot more practical than trying to treat people as residents merely for owning property (which I can't imagine would hold up in court).
Hudson Yards gets undeservedly shit on, but it's adding thousands of new units of housing and a lot of retail and office space to the city, all on what is essentially reclaimed land. Build a lot more of that level of density and you'll be making serious dents in the real estate market.
Yeah, planning restrictions are their own problem and the Bay Area is a special breed of even that. And NYC is certainly much better than that but not without fault: we build too much ultra-luxury housing here and that's really because of all the money-parking that goes on here.
Hudson Yards gets undeservedly shit on, but it's adding thousands of new units of housing and a lot of retail and office space to the city, all on what is essentially reclaimed land. Build a lot more of that level of density and you'll be making serious dents in the real estate market.