A sensible endgame is for the state to control all real estate, and we're all effectively renters.

This eliminates the speculation fiasco entirely-- there's no way to bid up a property if the price is determined by a standard, legally-defined formula, and there's no investor to profit from such games. At best, you could try to bribe someone into releasing a unit you wanted in the hopes you could scoop it up.

This also provides valuable levers for other social policy-- rent could be priced to encourage people to live near where they work for environmental reasons, or provide explicit blessings to favoured groups (reduced rent for veterans/schoolteachers/first responders/etc) and leases could be retired when there's a pressing need to replace a property (i. e. unsafe, or needs to be torn down for some new venture)