Housing is not the root of the problem. The root of the problem is our current inflationary debt-based monetary system. Banks create currency by giving out mortgages, and mortgages are backed by real estate. Currency used to be backed by gold, and now it's backed by real estate. In other words, real estate has become money.
> Currency used to be backed by gold, and now it's backed by real estate
No it isn't. Mortgages are not the only kind of fractional reserve banking. The currency is also fiat, its backed by the market's belief in the strength of the US government and economy. Gold back currencies also had pricing shocks, inflation/deflation and a myriad of other weird issues.
You're parroting the least informed version of Austrian Economics.
Do you have any idea how many people were under housed when the gold standard was the international order?
The mid century boom in housing is almost certainly a direct product of the inflationary and easy credit economy that was created by loosening the gold standard.
