Asset inflation has recently been repeated all over the world since the US Fed and other banks started printing money in 2008-9, nor is this a new problem but rather inherent to the private property paradigm.
The simple truth within the paradigm is that policies with significant social or environmental value will not be supported politically unless there is a corresponding economic value.
One could introduce “boplikt”, limit the number of investment properties or increase tax on investments but these policies tend to limit growth.
And the bald truth is that the democratic majority support asset inflation once they own assets and therefore no serious political party is actually interested in depressing GDP growth as a solution.
Depressing growth being, by the way, also the solution to a number of other problems posed by the growth paradigm; climate, consumption, loss of biodiversity, mass emigration, war, etcetera.
Sadly the majority will never choose it as long as the promised alternative is to get more and more…