I live in Toronto, and there is no way that I could buy a small (not even average size) home built in the 60s for less than a million dollars, unless it's in a really bad neighborhood or needs so much work that I will end up spending that much anyway
That's true, but it's generally people from LA, Toronto, and NYC that really have a problem. They are massive metropolises. Extremely high demand and very little undeveloped land. Supply and demand. For everywhere else that isn't adjacent to a megalopolis, I think the housing "crisis" is massively overstated.
Yes, for the minority of people who live outside of a major city, they likely aren't seeing huge increases. But for most people, affordable housing is an issue.
No, most people do not live within a market that has these problems. Yes, something like 80% live in a metro area, but this isn't applicable to all metro areas. In the US, maybe the top 5ish cities. Even Chicago, for example, has tons of undeveloped, or underdeveloped land. It's not even close to Toronto or NYC. For most people, moving a little farther from work is what they need. A Chicago suburb commute isn't even close to the same thing as LA or NYC.
Fair, but packing more people into a small space is only going to drive up land and rent value. Not everyone can live in Manhattan or downtown Chicago.
