You’re quite right that every saving ends up getting funnelled into mortgage payments. > Too many rich engineers with their stock going up 10-20x is what is fu

You’re quite right that every saving ends up getting funnelled into mortgage payments. > Too many rich engineers with their stock going up 10-20x is what is fueling the housing crunch. But you’ve missed the mark here. We haven’t seen rich engineers push up the price of Teslas or iPhones or Xfinity because these things are all in plentiful supply. If there were only 1000 iPhones in the world, they would cost a fortune and all be owned by rich people or speculators. And that’s the situation with housing, not just in the Bay Area but across much of America and Western Europe. The majority of the housing stock is owned by the baby boomers who neglected the need to build new housing for their children. And where does all this tech wealth end up? In that generation’s bank accounts when they sell or rent. The people with means are not the problem. The people ripping them off are. They might even be your own parents.