Earlier quoted context omitted.
I have noticed this anecdotally as well in costal areas of the United States. It’s like textbook Baumol’s cost disease[0], except housing is rising fastest while the cost of labor nearly not at all, because buyers (hiring firms) just don’t buy [0] https://en.wikipedia.org/wiki/Baumol_effect
I always found it interesting that a lot of economists thought that a rising tide lifting all boats could be characterized as a "disease".
The JFK-popularized term defending a special interest project trickling down benefits to a wider community isn’t really what it feels like to someone in a coastal US city and who is trying to hire an electrician or baby sitter and finding they are priced out of the market.