That makes no sense. Housing demand comes from more people looking for housing than available. It’s really that the economy fundamentally changed in the last 20 years. Sure there is inflation as well, but really this is about demand growth and lack of supply. As SD’s population has increased it’s income mixed has changed even more rapidly. While there are and will be plenty of poors the upper middle income and rich have increased markedly as a percentage of the population and they are driving housing prices.
