>source?

>> If wages matched the increase in housing prices alone

Ah. I thought you meant wages were low relative to other countries, when they are actually among the highest.

This is sort of the nature of inflation though, prices increasing faster than wages- but there is a feedback loop, as increasing wages increases prices.

> People are being bled dry by unsustainably high interest rates

Asset price inflation is probably more driven by low interest rates. Higher rates should bring down asset prices, ceteris paribus.