> The problem is government regulation. In some places, it's almost impossible to build new houses due to regulations.
Regulation yes, but it's not the lack of building; we're building like crazy all over North America. Many new homes are "lost" and become second or third homes for the wealthy or airbnb rentals. Regulations are not building for high capacity, preferring to sprawl and build monster homes that house few, wealthier people. Regulations are preferring condos to low income rentals.
> I think we have a situation where part of the population is literally voting to appropriate wealth from another part of the population.
Yep, but unintentionally. Governments are cutting taxes on the wealthy while transferring remaining tax money to their investments in the form of corporate welfare.
> Voting for more immigration which drives up demand for houses and voting for more regulations which constrain the supply of housing.
One of the parties in the US and a couple in Canada are literally running on "Immigration is bad" platforms. People aren't voting for immigration, they are getting immigration despite how they are voting.
> t the same time, those people who do not own a house are wising up to the scheme and so they increasingly refuse to work or provide value to society. Instead, they resort to financial schemes, illegal activity, freeloading government benefits; they've checked out from the system.
Ah yes, the welfare queen rant. People aren't "refusing to work", many are sick (physically and/or mentally) and/or homeless and can't take on jobs, not because they are lazy but because no one hires someone who smells like they haven't showered in a month. Companies are the ones resorting to financial schemes and illegal activity; wage theft and union busting is big business. Companies are freeloading FAR more than sick people.
People have "checked out from the system" because the system has abandoned them. When homes are $1M or more, there is no point working a second or harder job in order to afford a home, for many people owning a home is now forever out of reach.
> It seems that we are headed for an economic and political disaster.
We are and the biggest part of the problem is people who have fallen for the "it's big government and poor people who are robbing you blind" story.