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20 years ago, my mother bought a house for just under 50k. Houses in my hometown, of the same rough location and type, now go for 4x that.
Insane that housing prices have outpaced inflation by such a ludicrous degree. It's almost like the system is broken, the ultra-rich and corporations have found all the good tricks and loopholes and are exploiting them to the detriment of both ordinary citizens and the nation as a whole.
20 years is enough to double twice which would be 4x the price. That is how appreciating assets work.
Housing shouldn't be an (in real-terms) appreciating asset. In the long run that just leads to feudalism.
Imagine if everything keeps appreciating for 200 years.... now only cyborg Elon musk can afford to buy a house.
With finite land, it's never going to not be appreciating.