also, the rising real estate prices have detrimental second and third order effects. For instance, birth rates are dropping because young adults cannot afford

also, the rising real estate prices have detrimental second and third order effects. For instance, birth rates are dropping because young adults cannot afford a house, which in term means they have to rent against higher prices which means they have less income to actually put into the economy. What will we do once we have a generation which doesn't have any wealth and doesn't own a place to live? People who have little to show for it after a lifetime of working while subsidizing those who own the properties they live in is not a situation you want society to be in.