I think the OP speaks volumes to folks considering a 2nd house as an investment.
As far as a 1st house goes, you either suck it up or rent.
As you say, if wages can't keep up with inflated housing affordability, you may not have that choice.
If I were not already several years into a mortgage, I would live in an RV.
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A house is an expense. Either you can afford it or you can't. Owning a home changed from being a standard of living to being a luxury.
This is caused by our money system being abused by politics, and a completely failed experiment in "free trade" which turned out to only benefit the most wealthy. Fiat and globalism destroyed jobs and the middle class. Globalism, advocated by corporations, under "free-trade" (we had no tariffs, while everyone else had tariffs against us) simultaneously created behemoths in China and India - natural adversaries who we treated as allies but our loyalty was never and never will be reciprocal.
All the while education and technical worker visas, created at the same time a vacuuming up of a native-born scientific and engineering jobs and its associated nativist influence, was advocated by Wallstreet, large corporations and politicians on both sides being pre-owned by these treacherous business interests, conspired to sell our country out from under our generation.
I dont disagree. Add to this that zero/low interest rates create speculation/bubbles in assets never intended to be investments (trades)... ala houses.