There are studies like this one [0] that argue just about the entire increase in inequality in the past few decards (in Piketty's "r > g" sense) can be explained by increases in the housing market.

It's interesting to hear Chicago doesn't have a housing shortage though, having pretty much all my roots and social ties in coastal cities it does feel to me like this problem is everywhere.

[0] https://www.brookings.edu/bpea-articles/deciphering-the-fall...