Housing prices as a multiple of average earnings. This is what bothers Millennials the most. Most of them don't even have a chance as buying a home early in life. Rent is so expensive, relative to their income, that they can't even save up enough for a down payment. I am Gen X and I feel like we were the last generation where home prices were really affordable relative to our income. Why did this happen? A combo of factors. 1) Lousy fiscal policy by Congress. 2) Lousy monetary policy by the Fed launching bailouts for bubbles bursting ... the internet bubble, the housing bubble, Covid. 3) Leaving the Gold standard, which allowed the government to run up our massive debt burden. 4) Flooding the country with illegal aliens, which both drives down wages for everyone and increases competition and prices for cheap housing, cheap apartments. I am sure there are other reasons we could add to the list.(Wall Street Mav)