> After all, salary increases at the rate of inflation
That's quite an assumption there. Specifically, it assumes no increases in per-worker productivity.
By your logic, housing never would have been affordable. But we know that it was!
> This made it a great investment for the people who already owned housing, but newer generations no longer have access to housing and can't invest in it.
That's quite an assumption there. Specifically, it assumes no increases in per-worker productivity.
By your logic, housing never would have been affordable. But we know that it was!
> This made it a great investment for the people who already owned housing, but newer generations no longer have access to housing and can't invest in it.
Actually about 43% of new homebuyers are millennials, and that could not happen if new generations could not afford housing. https://www.nar.realtor/newsroom/nar-report-shows-share-of-m...