Homes will have to drop in price relative to salaries. Even optimistic real estate investors see this overrun of supply within 20 years. I have seen others predicting it as soon as 10 years out.
The baby boomers are downsizing and well.... dying. Meanwhile people are having far fewer children but we are building more homes faster than ever before. Unless we see an insane influx of immigration housing is going to become readily available. The problem with the immigration solution is that most other countries are facing an even worse population crisis in the same time frame or earlier.