The obvious solution to rapidly rising prices is to increase supply, as described here (http://www.amazon.com/dp/B0078XGJXO) or here (http://www.theatlanticcities.com/housing/2013/10/san-francis...). I've posted both links before but we keep seeing stories like these and the solutions remain the same.
The technology necessary to increase housing supply (steel frames, elevators) is a century old (http://www.slate.com/blogs/moneybox/2013/05/03/silicon_valle...) and well-understood. The problem is almost entirely political.