We need the single family home to be half a million now!
(twitter.com)
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This is creating a landed aristocracy. You own your house so you have the leverage to buy another, either by selling the current one or mortgaging it.
It's still possible to buy a house from earned income, it's just 5x less likely than it was in the 80s, and it's only getting harder. The time is coming when there will be an insurmountable divide between those who own land and those who don't.