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Instead of artificially giving out loans to people who can't afford mortgages, tax breaks could go out to construction companies to develop smaller homes. The average house size has doubled since 1950 but families are smaller. There's no reason a starter home needs to be worth half a million dollars.
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The free market tends towards mild deflation - except when the government gets involved like education and Healthcare. You can buy a PS5 & Switch for the equivalent of a 1980 Atari console if you adjust for inflation. There's no need for minimum wage spikes if the government policy would stop pushing for 2-5% annual inflation
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College is so expensive because the demand is outstripping the supply thanks to government loans & scholarships. Most people should never go to college unless studying law, medicine, STEM or possibly some humanities and finance.
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This is another flaw in society. Things aren't expensive everywhere, people just want to live where it's insanely expensive because everyone wants to live there.
In a way property price/taxes helped stabilize housing costs. I lived in rural NY for a while and they didn't have the housing bubble because with the already high property tax people wouldn't pay housing bubble prices. Even in NY the land was not as expensive as the build. The property tax could easily match the mortgage though.
The bottom line is, no one put a gun to our heads and forced us to live this way. We chose this lifestyle and somehow expected it to produce the same results as a completely different lifestyle.