Is the housing crisis solvable without radical policy change?

Context

The housing crisis—characterized by soaring prices, stagnant wages, and shrinking affordability—has become a defining economic challenge in developed nations. Policymakers debate whether incremental reforms (zoning tweaks, tax incentives, modest supply increases) can solve the problem or whether fundamental restructuring (radical land-use reform, public housing expansion, price controls) is necessary. The answer hinges on whether housing markets are broken by regulation and scarcity, or by deeper structural forces that half-measures cannot address.