Interest rates cost has been going down. And the monthly amount paid into mortgages is capped by lending ratios. This leads to more debt but not higher rents.

Interest rates cost has been going down. And the monthly amount paid into mortgages is capped by lending ratios. This leads to more debt but not higher rents. The main deflationary pressure is that more than 50% of the workforce has seen declining income since the 70s (men). https://www.theatlantic.com/business/archive/2012/09/mens-earnings-havent-grown-since-the-1970s-why/262296/ https://www.theatlantic.com/business/archive/2012/09/mens-ea... There are many causes, outsourcing, different groups joining the workforce, shrinking unions, more income for capitalists and less for workers. In my mind the biggest killer has been the decline in productivity growth.