Americans are more than capable of changing these things through fiscal policies.

Or just impose regulations: an example of what we do in Denmark is to make house owners liable for having somebody to live in the unit (bopælspligt).

Would you seriously want the FED to solve the housing crisis instead of democratic appointed representatives?

that is absolutely absurd.

edit:

Anyways, to keep focus median house prices has seen a major correction after interest rates went up: https://fred.stlouisfed.org/series/MSPUS

combine this with higher salaries, and you can infer yourself that you get more house for you money now.