Yep for sure. Asset inflation cussed by things like quantative easing, the poorly covid furlough scheme and various other 'trickle up' economic policies over the decades help fuel the rampant wealth inequality we see here via asset bubbles.

Austerity measures also play a part.

I think a lot of commonwealth countries are realizing now that allowing questionable foreigners to park their questionably acquired wealth into assets might have artificially have boosted their countries perceived prosperity, but was no substitute to real economic growth based on innovation.

It's a painful to take a look at cities like London and Vancouver and compare them to SF and Seattle.