What? That it ranked in 2008 and only superficially recovered? Well, duh.
Could our historically low interest rates and historically high house prices have some other connection besides the obvious one that the former causes the latter? Could they both be driven by some underlying problem with the world economy? (@ATabarrok, @EconTalker?)
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That would have been due to the rise of Silicon Valley. That explains the rise of house prices in the Bay Area, but presumably not in many other places.
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This is rhetorical, right?
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It's bad rhetoric if so. If it's intended to make a point I don't know what that point is.
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I see it as stemming from historically high concentrations of wealth chasing fewer and fewer good investment vehicles.
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That's the sort of thing I mean. A lack of new investments implies an underlying lack of innovation, and that would be worrying.
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In justice.
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Ruling class (boomers) pulling any stunt possible to ensure their assets are priced a premium until they die?
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It's not just houses but other assets - stocks, startups etc hitting unprecedented valuations because capital needs to be deployed somewhere. With low rates, there is a seeking for return wherever one can be found. House prices also pushed upwards by Nimbyism.
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