Rates are higher than the current market can bear, a result of the artificially extended period of historically low rates. The pandemic can only be blamed for some of this. The prior administration juicing the economy against sound economical principals telling us rates should have continued the rise that started around 2016/2017 contributed at least as much and hamstrung our tools to respond.
Housing stock shortages have long list of causes, as you line out. With so many things contributing to the problem it's hard to cope with, both at a policy level and for us regular folk. An average person needs an explanation that's easy and memorable, and thereby actionable in terms of throwing their support behind. That's not easy when there's not enough fingers to point, solutions to each aren't clear, and there's only so much political bandwidth that can be put towards making change.
It's going to be slow, and not everything will work, but I'm glad there is finally attention on it and it looks like the people who can do things are doing them instead of just talking.