It'll be interesting to see which countries are willing to address housing as infrastructure for their economy. I imagine real estate bubbles will continue to happen as long as NIMBYism and tax policy facilitate speculation. There's no sensible reason housing should cost every citizen of each generation 20 entire years of daily income.
I agree very strongly with this. The question is how we best make that happen (more). I think helping more local communities have more places to work/buy/participate is going to be a bigger win than building more housing in the places the jobs already are.
People commute to San Francisco from Tracy. From Sacramento. Moving those people from Tracy to San Francisco cuts their commute. It also means the demands of those people are now more expressed in San Francisco and less in Tracy. That means fewer jobs available in Tracy and more jobs available in San Francisco; that means more demand for housing in San Francisco.
We're presently seeing low income citizens forced out of city centers and into "undesirable real estate areas" within some stretch of what could be called "commuting distance".
The point is, "undesirable real estate areas" is not static. There are tons of wonderful places that are undesirable simply because they are unaffordable (not expensive - often cheap - but without sufficient income sufficiently available). A basic income will make more of these more desirable to more people. Some of these people will chose to move there rather than SF (or Hayward). This reduces demand for presently-desirable housing, which means fewer low income citizens being forced out of city centers.
Now it's true that centralization allows some efficiencies that decentralization does not. But it has some extra costs - and (especially) some extra risks, as well. I really don't think the ideal outcome is "everyone moves to San Francisco."