If shipping is cheap why does goods go from Chine to US not from US to China?
Would cheap energy lower land costs for a house or flat? Cheap energy would improve situation. But a lot of competition comes from productivity and wages. Low wages in Asia made possible to import goods cheaper from Asia rather than produce locally.
Question is - why people where not able to save more money? From 1971 until housing crises in 2008 personal savings diminished.
While top 1% earnings increasing.
If you look at housing price index Vs salary then real estate rose by 250% while salary not some much. Rent increase proporsonal to housing prices. It just generates so much cash from those who can't buy it. And paying higher rent set you back from saving and buying your own.
And without savings you have also limited negotiation options.
I would say that the end of Bretton Woods could shift people attitude away from money. Why keeping dolars that does not have real value? Invest in property. So money reserves lower, property gets more expensive. And expensive property takes away working class income as rent and ability to afford housing. Actually it takes away ability to negotiate as you don't have spare income to put away for rainy day.
Yeah, liberalisation just made rich richer.
All that government debt went to entrapanuer not working mass.
If capital accumulation is too fast then he need to put in somewhere. If that somewhere is housing then normal working people can't compete.