Agree... but i wish we would do more before that time comes... government needs to put in place some rules and regulations e.g. encouraging high rises, increasing taxes on houses bigger than 1 or 2 canals substantially and last but not the least the trend to safe guard your money by buying a plot and leaving it aside for decades need to be discouraged. simple way to do is that since all transactions are done via C-NIC hence every time a family/khandan no (comprising of a person, his spouse and children before marriage... after marriage Id card no remains same but family/khandan no changes) buys a 6th or 7th plot then taxes and transfer fee should increase slightly, even more on 8th or 9th plot and double from 10th to 12th plot. This would have double pronged effect as one hand we would discourage investments in plots and other hand it would increase investment in saving schemes, stocks, bonds etc...
In short some one higher up will have to think out of the box.
Personally, I am not a fan of too much government interference and controls. As long has properties are registered correctly and people pay due taxes (which most don't these days), I am fine with people owning multiple properties. Economics should be the driving force.
Like Karachi, I think in a decade or so we'll see rapid increase in number of high rise residential buildings in Lahore, Islamabad and other cities, provided that our economy grows at a reasonable rate.