There was massive inflation in the 70ies and it appears that what you describe hasn't happened. In fact, at least in theory inflation decimates the savers and h

There was massive inflation in the 70ies and it appears that what you describe hasn't happened. In fact, at least in theory inflation decimates the savers and helps the borrowers (well, if you borrow before it really picks up I guess). Also, housing-to-income ratio in the USA is (used to be?) one of the lowest in the developed world. Housing is relatively cheap, including in many non-depressing places with jobs (e.g. Chicago, SLC or San Antonio, of the ones I know thru someone who lives/moved there)