Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?
Maybe, but really the issue is construction of new houses. Cities are much cleaner now so people want to live in them. They used to be filled with factory smoke and animal feces.
Yes, more than now. No I don’t care that you saw some poop yesterday. The streets were literally caked with horse poop. You wouldn’t even notice dog poop.
And most jobs used to be physical, so the average person would have some experience in carpentry. If houses were too expensive, you would find a friend or relative with some expertise and build something yourself. So houses outside the city were cheap because you could build new ones, and houses inside the city sucked (and were cheap).