Not in my area, average housing prices have jumped from 150k for a 3 bed 1 bath to 550+k for same. Not to mention rental costs.
And there are plenty of working people (including college professors, teachers, policeman, fireman) who can't afford these prices.
I was fortunate enough to own, but there are lots of people who weren't.
And as they vacate elsewhere, the market will adjust. Supply and demand.