Ask HN: Will ICANN or the US gov apply incentives to reduce domain squatting?

I have to believe someone has considered this before, but I couldn't find a write up on this specific angle... So here goes:

A friend is interested in acquiring a potentially very valuable domain. It's a single word, common vernacular, .com, but the owner won't budge for less than x. x = a very large number.

This situation seems very similar to someone owning a tract of land in or around an urban center. Their asset can be developed, rented, sold, entered into a joint-venture, or just sit there. But in real estate there are considerable holding costs imposed by government to encourage development, stimulate growth for economic development, improve density, etc...

Are squatters hindering growth? Or are they just savvy investors? Does anyone think/believe ICANN or the US federal government will step in here? If so, how?