If you remove housing restrictions, some very powerful people will not be happy.
All I can say is... never say never.
Sometimes back, in 2018 or so, I was having a conversation with folks here or elsewhere online. Everyone was rambling... The interest rates can never go to 5% and we are doing bank interest rate checks before mortgage so we will never see a housing correction of any sort.
I believed if something more important than housing gets compromised, there will be no way but to increase rates.
All it took was one stupid virus coupled with one conflict to make that happen. Its rare but not that rare too. Food prices went up, they had to ensure that money supply is reduced and they did it with quantitative tightening and now interest rate hikes. Whats more is that even a cooling down in Canada will not stop that so long US and UK experience inflation.
What was thought impossible became possible. It just took something more important getting compromised : Food. I have seen 30-50% correction in BC. Do not bother "benchmark" prices... they are trailing indicator and broken too.
There are no holy cows and only one single interest. If some other interest of these very powerful group of people is compromised, they will throw all the housing ownership so fast they you will not be count how many were thrown.