> E.g. beautiful real estate that is owned by the same family that owned it hundreds of years ago. An American tourist can rent space there and enjoy but a resi

> E.g. beautiful real estate that is owned by the same family that owned it hundreds of years ago. An American tourist can rent space there and enjoy but a resident can never hope to earn enough to buy a piece of that. The US housing market is ossifying rapidly and will likely be exactly the same within a generation. Canada and Australia are as well.