K-shaped recovery in action. The very rich are swimming in profits extracted from the pandemic and profit-price spiral (driving 60% of inflation) while there are massive layoffs at most megacorps and loan rates are too high for people to afford to purchase a home.

Even making $250k/year isn't enough to afford to live where I grew up in San Jose, CA. It became a tiered society of mostly low-paid and middle-income renters contrasted with some retired (maintaining Prop 13) but mostly ultra-rich (mostly people from abroad who bring huge piles of cash) who are the only ones who can afford to live there. It slides into becoming a miserable banana-republic (unless you're very rich).