Question is - why people where not able to save more money? From 1971 until housing crises in 2008 personal savings diminished. While top 1% earnings increasing. If you look at housing price index Vs salary then real estate rose by 250% while salary not some much. Rent increase proporsonal to housing prices. It just generates so much cash from those who can't buy it. And paying higher rent set you back from saving and buying your own. And without savings you have also limited negotiation options.