[mabbo]

That's going to happen to areas no matter what. There is very little you can do about that.

What we can do is increase housing supply so that prices of all homes are lower.

[throwaway34241]

For primary residences you could also do things like defer payment on the increases until sale, so no one is forced out of their home but the people who have huge capital gains do not also get a tax break. Rental property shouldn't need a special break though, if there's a housing shortage and prices are up it's very likely that rents are up too.