It's even more tragic when you compare what half the average house price gets you somewhere like Queensland, in a country with higher wages and lower living costs. Like you say, we've totally normalised this and there's no politically convenient way to get out of it.
It's disgusting is what it is. But the issues are complex and systemic, and the appetite or strategy to fix it doesn't really seem to be there. The Greens and TOP seem to have some good ideas/moves in that direction.
It's hard though - you don't want to hurt an individual by or the unfortunate recent FHB, nor crash our entire economy with drastic action, but at the same time inaction is hurting entire generations and society as whole.