This is, in essence, what caused mass inflation in the first place.
People making $X/mo, thinking "well, I can afford a $500k house because it costs $Y a month", where Y is some nominal amount less than X. That works for a little while, until the price of everything creeps up and now Y + expenditures > X. Entirely predictable outcome.
In reality, a savvy person making $100k a year in the US can live comfortably, if they live within their means. Those last 4 words seem lost on most people, unfortunately.
People making $X/mo, thinking "well, I can afford a $500k house because it costs $Y a month", where Y is some nominal amount less than X. That works for a little while, until the price of everything creeps up and now Y + expenditures > X. Entirely predictable outcome.
In reality, a savvy person making $100k a year in the US can live comfortably, if they live within their means. Those last 4 words seem lost on most people, unfortunately.