It's crazy to me how many old people who self-identify as conservatives / capitalists have no qualms about using their political pull to get government muscle to kill competition in real estate using the building permitting process. Free markets mean free markets. Charlie Munger was right: it's all about incentives.
Capitalists when it comes to ownership. They've made the investments, so young workers should work hard and accept lower wages to pay them shareholder profits. Company taxes should be low.
Socialists when it comes to healthcare. They are old and fragile, so young workers should pay high taxes on their labour to help the old people needing socialized service.
Feudalists when it comes to estates. They are the rightful owners of the land they inherited, so young workers should go into debt for life to buy it off them so that they can cash out lottery money for selling their real estate. Or even better, cash rent money while keeping the property.
Corporatists... I can go on and on.
Which will be largely paid for and staffed by immigrants.
And yet, many workers do make higher wages. Why do you think that is?
b) Immigration isn't keeping salaries low. Companies are. Because they have eliminated unionisation and so workers have no means to demand for higher wages. And with so much remote talent companies always have a backup plan in case there is a supply shortage.
c) As you say they compete for the same resources. Now why can't there be more homes ? Because older people fight increasing density, refuse to support taxes on investment properties and are increasingly refusing to downsize once their children move out. Remember for many their legacy depends on high property prices.