Every time someone says this, I have to remind people that the far more probable outcome is we become Palo Alto, where home prices rose *$700,000* in the last year alone from $2.6M to $3.3M than us ushering in 1920s Red Vienna style social housing.https://twitter.com/gibsopi/status/1004401551949979648 …
Those folks are long-term, wealthy employees who can always cover the incremental costs to the next rung up. They also pay new folks a *lot* (in constant dollars) compared to when they started.
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So purchasing power parity calculations don't figure into it.
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You'd be right, but *even* those families are being priced out.
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