Hit the nail on the head. Promoting housing as a vehicle for wealth accumulation will be viewed as one of the greatest failures in modern economic policy in the

Hit the nail on the head. Promoting housing as a vehicle for wealth accumulation will be viewed as one of the greatest failures in modern economic policy in the West. It's easy to blame Wall Street, corporations, immigrants, but the reality is much simpler: these policies are wildly popular with the first few generations of voters who saw their property prices go up, so governments are deathly afraid to touch them. The next generations are the ones who suffer, but they don't vote (yet). Politically safer to kick the can down the road and make it someone else's problem in 10 to 20 years' time.