I mean it's not just in NYC and SF. There is a housing affordability crisis in basically every cosmopolitan city in the world. And it's clearly generational - p

I mean it's not just in NYC and SF. There is a housing affordability crisis in basically every cosmopolitan city in the world. And it's clearly generational - people who grow up in these cities are unable to afford to purchase there, despite being in the same socioeconomic class as their parents who did purchase there. There seems to be a global undersupply of housing development in the largest cities. My guess would be that the growing information economy has meant a much denser concentration of well-paying jobs in a small fraction of cities (farming was obviously very spread out, and industrialization somewhat spread out as well, since factories naturally require space), coupled with the double populaton bulge from baby boomers and their children, the millennials. Additionally, outside East Asia, communities seem to have become increasingly unable to dream big and invest in large scale development.