The Effect of Two income Households on Housing Prices
Todd Zywicki has tried to directly evaluate this claim. He finds that it housing prices and other costs are much lower than the increase in the tax burden. 


  Thus, taxes increase in the example by \$13,086. By contrast, annual
  mortgage obligations increased by only \$3690 and automobile
  obligations by \$2860 and health insurance \$620. Those increases are
  not trivial, but they are swamped by the increase in tax obligations.
  Too put this in perspective, the increase in tax obligations is over
  three times as large as the increase in the mortgage (the supposed
  driver of the "two income trap") and about double the increase in the
  combined obligations of mortgage and automobile payments. This also
  leaves aside the peculiarity that the 2000s family is paying \$9670 in
  new child care and \$2860 in new automobile expenses supposedly to meet
  a \$3690 increase in mortgage expenses, the supposed driver of the
  model.


Evaluating The Two-Income Trap Hypothesis

Arnold Kling (Taxes and the Two-Income Trap) notes that Zywicki's estimate doesn't include payroll taxes and therefore underestimates the change in tax burden.