Waiting lists wouldn't fix the housing issue. In fact they would make it worse because you would have to be lucky enough for a plot to become free, have the money AND be first in the waiting list. Never mind how long that list would be. You could be on it for YEARS before you're first in line. At least now if you have the cash and you're the first to spot a free plot, you can go get it.

SE either need to add at least ten times the amount of wards there are now or do a complete overhaul of the housing system. The amount of plots available per player on even the least populated servers is appalling.