Low interest rates in advanced countries have pushed money into real estate
&gt; Now, wealth and growth are completely disconnected. This is, of course, behind much of the populist anger in politics today. Affordable housing in particular has become a rallying cry for millennials who can’t afford to buy homes and start families as early as a previous generation did.<p>I am one of those millennials that is forever priced out of the housing market. And that to a large extent has shifted my political belief away from hard left that I once used to be. Especially seeing how the local mostly leftist politicians in SF have basically helped fuel the crisis even further and basically have done nothing. And many neoliberal leftist economist and media outlets even defending the status quo monetary policy that is clearly behind this wealth divide.<p>To my disappointment though as much of a victim clearly as millennials and GenZ are, their political beliefs don’t acknowledge they want a change. It’s as if they expect the same group of people that are largely behind some of the bad policies causing the wealth disconnect are suddenly going to reverse course. A case in point is SF where they keep voting the same old eggheads who have virtually made it possible for the boomers to retire extremely wealthy at the expense of prices out millennials like me. If you vote for the same people expecting some sort of change will happen then spoiler alert. It won’t.