I can kind of see it.
My son is in the elevator trade. Third year. Making about $60K a year right now. In about two years he will be over $100K. In two years.
He would like a starter home. Nothing fancy. According to the numbers he should be able to afford something in the $200K range. Except there is nothing in the area in the $200 range, unless you want to live in a mobile home.
This is in New Mexico. Rio Rancho to be precise. Both sets of parents live here, so they want to stay in the area. They are currently renting a small two bedroom apartment for $1300 a month and it is only that low because they have been renting it for 10 years. If they were just moving it, it goes for $1800 a month. These are not luxury apartments.
The cost of everything is out of control and wages have not kept up. A lot has to with government regulation of our energy and transportation sectors as well as the ongoing costs of government interference in healthcare.
O’Biden attacked the oil industry day one. Simply put, that drove the cost of diesel way up which affects everything we consume like groceries and gasoline. Prices over all went up significantly while wages did not, so a lot of people are now in big credit card debt. This includes a lot of union members. I am not a big union supporter, but they are not wrong to threaten a strike or to actually go on strike.
Prepare for shortages in the near term. Brought to you by the DNC/Obama/Biden’s handlers.
And builders aren’t interested in building anything but McMansions.