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It wasn't that long ago that living together was normal (lemmy.world)

submitted 3 days ago by The_Picard_Maneuver@lemmy.world to c/whitepeopletwitter@sh.itjust.works

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[–] turnip@sh.itjust.works 6 points 1 day ago* (last edited 1 day ago)

Its because the US excluded housing appreciation from the CPI, leading to lots of cheap debt all over the world that gradually bid up home values via the cantillon effect. Its now called owners equivalent rent, and its ridiculous.

Exporting all our production to China also helped dropped rates via deflation, though housing being excluded allowed it to simply flow into housing instead of achieving prosperity.