Why Boomers Think Millennials and Gen Z OVERSPEND On Luxuries
@Stahesh My hunch is that the luxuries have competition creating a balanced market today, where homes are regulated by the government and property owners are incentivized to rent their properties. Back in the day the need for housing was high and many businesses were created from the competition to build and sell homes to middle class families. Where luxuries were underdeveloped and had little competition so pricing was extravagant. Shit trade off either way.
It's my hunch that property price rises were deliberatey inflated.
Technology is inherently deflationary as you can see from that list - tech becomes better and cheaper over time.
Hyper-inflating the housing market is a surefire way to offset that. And if house prices had stayed in line with real inflation, we'd all own houses, have families and it would be far harder to push us around and grow government.
@DoubleD @TenaciousGoat @Stahesh
Yes that's why I used the term "hyper-inflating". Housing is inflationary by default, but govt has many ways to boost scarcity and demand.
Incentivizing divorce and the court system to split families up has just been one way.
@UncleIroh @TenaciousGoat @Stahesh Keep in mind as well that "luxury" and "housing" means something different now than it did then. If you want to compare two things they need to be at least relatively equivalent.
The cost of housing has gone up even when accounting for inflation, and that is certainly affected largely by government influence.