Sadly I've lived this story a few times. I grew up in coastal Carolina where you could buy a house twenty minutes from the beach for under 100k. Not so any more.
We went to Raleigh where the same story played out.
Now I live in Richmond. Same story, but we did finally buy a house.
The upside is that tech developers and other remote workers are moving to small dying towns like Newport, NC. Which is a great place to live! and Super Cheap! They need young blood and more of a mix of college educated folks to help in the community. My hometown of Havelock has a brain drain issue, if you go to college you don't go back home - there's nothing there for you.
At the same time we don't want everything to price out. Tough balance.
This is such an untenable situation