Generally speaking, people will always choose to spend money living as close to their ideal as they can, with the resources they are able to give toward it.
The fact that so many people choose to live in suburbs, or the "sticks", suggests that there is something desirable to _them_ about living there. I.e. the same spending power required to live in a house in the suburbs, or rurally, could usually be used to live in higher density living, closer to urban centers, but instead they choose to suffer long commutes and expensive transportation in order to enjoy a different lifestyle.
I think it's naive to suggest that "American housing" is a Ponzi scheme.
The fact that so many people choose to live in suburbs, or the "sticks", suggests that there is something desirable to _them_ about living there. I.e. the same spending power required to live in a house in the suburbs, or rurally, could usually be used to live in higher density living, closer to urban centers, but instead they choose to suffer long commutes and expensive transportation in order to enjoy a different lifestyle.
I think it's naive to suggest that "American housing" is a Ponzi scheme.