The difference now is that we have seen a big uptick on inequality in American. People that are well off not only drive up housing prices, they also use their

The difference now is that we have seen a big uptick on inequality in American. People that are well off not only drive up housing prices, they also use their political clout to avoid the construction of affordable housing in order to maintain the value of their homes. It is a double effect that makes a big difference. Also, Americans got used to the idea that their personal home is wealth, which is a misleading and dangerous idea.