Ironically, it would be easier for progressives to embrace the market on this: i.e. "We care about affordability for regular people, not the portfolio values of white millionaires."

Which is odd because from where I'm sitting that's the only way out. Just shut up, do nothing and when the market does market things and Karens come Karening at you, you say "I don't understand why you're all making such a mess of our perfect housing market"

optimism

That's why politicians avoid letting the market run its course.