The solution to housing is reducing subsidies and removing supply side restrictions. However these are not politically popular in a world where people want housing prices to go up.
There are many arguments against urban sprawl which is direct consequence of such approach.
I'm tired of the snide dismissals that we Americans make to any comparison between our country and others. Oh, well, our country is special and exceptional, heterogeneous and large, so we have nothing to learn and cannot possibly change things here. Even if you arrogantly assume America is the best at everything and leads the world in so many ways, much can still be learned from the way others live their lives and structure their homes, businesses, and societies. You can compare apples to oranges. They're both fruit! Biologists compare species all the time to learn more about the species and to better ourselves with that knowledge. We can learn about and from other countries and peoples while disclaiming some of the differences. At the very least we can acknowledge that it works elsewhere and that what they do could be done here in at least a limited fashion or successful manner. Even if we're red apple fruits and they're bloody oranges, they're both fruit and both countries.
False. Value can increase if gdp increases without changing the %income spent on housing.
If house prices double while salaries double, affordability is the same but dollar value still went up.
Any time income growth is higher than inflation, you can buy more goods with your income
This is why people can buy more goods and services in 2022 than in 1 AD.
If income growth always lead to equal currency devaluation, economic development would be impossible.
In growing economies, income growth exceeds inflation rate. If the value of a purchase tracks income and not inflation, the real value goes up.
In the USA, real GDP per capita (adjusted for inflation) has increased 30+% since 2020.[1]