In the US, in the states where we can make decent money, yes, it is normal. If middle class is defined as being able to afford a modest house/condo and retire a

In the US, in the states where we can make decent money, yes, it is normal. If middle class is defined as being able to afford a modest house/condo and retire at 65, yeah, this country is fucked. My experience parallels yours for 20-40 house owning friends in the Pacific Northwest. People got help from parents, or got lucky with IPOs (a minority of us for sure), or have trust funds, or bought in when houses were less than $500k. So much of the market is a combination of real estate investors, private equity and foreign investors. I know a bunch of boomers who basically own several properties, and just keep buying them up. One guy in LA owns several hundred now in his later years. EDIT: Also obviously massive asset inflation due to QE Infinity, which has more or less fucked everybody who has cash or a low net worth.