First of all, agreed that housing prices are insane, even two-income households struggle to buy in my city.

But taking a more long-term view, in the US the owner-occupied housing rate about 65%, which has not changed a ton in the last 50-60 years (high was 69% in 2005 and low was 63% in 1965). Granted the market has changed a lot, we have much bigger houses, and more two-income families to pay for those more expensive houses.

https://www.advisorperspectives.com/dshort/updates/2024/04/3....