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Looks familiar. We already have the same issue in The Netherlands (Hi neighbour).
1st time buyers can't get a house as they are to expensive, current owners can't move on as they 1st need to sell before they can buy something (and hope that the selling prize covers the mortgage costs), social letting (entry level) has an issue with availability of houses and most others for the letting market are in the unregulated market and those houses are being sold off as the letting out of houses in that market is being regulated so much that it's not economical anymore.
On top of that, it's to expensive to build new houses and the country is already needs 1m houses in the next few years. Due to this the right wing is hammering on stopping refugees entering the country when they are about 5% of the immigration issue. (expats are the other 95%)