All it will cost you is a few decades of deflation to get back to 70s prices.

To get back to 70s prices we should also go back to 70s building codes (less safe, but is something costing 2x, 3x, 5x really justifies the marginal safety improvements?) and 70s house sizes (smaller)

I am very ok with housing price deflation.

As should everyone! If your finances would be wrecked by house prices staying stable, let alone decreasing, you're in for a world of hurt.

Also it's amusing that everyone wants lower cost housing but wants house prices to appreciate.