Over the course of US history, housing costs match GDP growth. https://pubs.aeaweb.org/doi/pdf/10.1257/jep.32.1.3 https://pubs.aeaweb.org/doi/pdf/10.1257/jep.32

Over the course of US history, housing costs match GDP growth. https://pubs.aeaweb.org/doi/pdf/10.1257/jep.32.1.3 https://pubs.aeaweb.org/doi/pdf/10.1257/jep.32.1.3. Housing is first and foremost a place to live; financializing it has really been a big effort (and mistake) since the '70s. https://jakeseliger.com/2015/12/27/why-did-cities-freeze-in-the-1970s/ https://jakeseliger.com/2015/12/27/why-did-cities-freeze-in-...