Houses are assets. Houses were the most commonly owned assets, so governments that increased the price of housing made most of the middle class richer, making

Houses are assets. Houses were the most commonly owned assets, so governments that increased the price of housing made most of the middle class richer, making those policies popular. Re-formulating the above, making housing expensive is popular policy. Doing that policy long enough causes new entrants into the market to not be able to afford housing. So yes, there is something wrong with our housing system. Part of that is that we marketed 'own your house' as a great way to earn money, and then made good on that promise at the expense of new entrants into the market.