-1 for abusing the term "Ponzi scheme" but otherwise I'm with you. Ponzi implies this was some elaborate conspiracy with a puppeteer at the top when it reality it's an emergent property of 50 years of misaligned incentives playing out in similar ways across multiple nations in similar ways.
The postwar years saw a huge boom in housing construction which created a few decades of housing availability that may just never exist again nor should it. Housing as a vehicle for building wealth and housing becoming unaffordable for the younger generation are two sides of the same coin.
The postwar years saw a huge boom in housing construction which created a few decades of housing availability that may just never exist again nor should it. Housing as a vehicle for building wealth and housing becoming unaffordable for the younger generation are two sides of the same coin.