When I went to college, I shared a 2 bedroom place with my brother, and we paid 350/mo. It wasn't a great building, but it was perfectly ok and in a decent enough part of town. You couldn't get that place for twice the place now. In fact, I bet you couldn't get a similar place for 4 times as much.
Half the problem is definitely too much money sloshing around the system thanks to central banks and various government programs that let people borrow way too much money at way too low rates.
In addition, however, it's pretty tough not to go to any store and order from any restaurant and also realize that there's a lot more people around (and a lot different people around) than back then.
I don't blame the people who took advantage of our policies, it's ultimately the fault of our politicians and the bureaucrats that we're in this situation.
Half the problem is definitely too much money sloshing around the system thanks to central banks and various government programs that let people borrow way too much money at way too low rates.
In addition, however, it's pretty tough not to go to any store and order from any restaurant and also realize that there's a lot more people around (and a lot different people around) than back then.
I don't blame the people who took advantage of our policies, it's ultimately the fault of our politicians and the bureaucrats that we're in this situation.
And they send the policies out to other western powers to copy, "oh it must be good, it's what the world's sole superpower does!"
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