Housing is a very complex subject, but in general the biggest issue with housing is that communities block new developments on artificial grounds such as environmental review, ruining their view, or "historical character". If you want to reduce housing prices, build more houses.

On humvees and diamonds - if people want large cars and diamonds, let them buy them. If your unhappy about fossil fuels, would an electric humvee be better? I could go through your or anyone's home and critique the usefulness of any number of possessions based on my own subjective definition of value. That doesn't mean I'm right and you're wrong, or that you don't deserve such things.

We let the individual decide what is best for them.