Yes - normal people normally pay everything they can afford on their house, so it's peoples' income that determines house prices. Interesting that almost every

Yes - normal people normally pay everything they can afford on their house, so it's peoples' income that determines house prices. Interesting that almost everyone is happy to drive around in a mass produced car, precisely the same as 10,000 other vehicles. And cars, although much more capable, cost (relatively) much less than decades ago. But almost everyone wants their house to be special and unique, and pays whatever they can to that end. I don't see it as housing supply driving costs, so much as money supply.