Why Rent Is So High and Pay So Low
This article doesn't answer the question and seems primary based on nostalgia.<p>My theory: the Fed's zero interest rate policy is very good at inflating asset values: S&P500, housing, you name it.<p>Rising income is a second-order effect: we hope that rising asset values will lead to increased wages.  That used to be the case, but no longer is.  Why?  Because of automation and globalization probably.<p>So, the Fed has the pedal to the metal for seven whole years and we get mediocre job growth, no real wage growth, but screaming high housing costs and stock market.  And who owns the most real-estate and stocks?  The wealthy do, which is why inequality is growing.<p>Even though I'm critiquing the Fed's policy, I don't have the answers and would probably pursue the same policy.  It's a real conundrum.  Perhaps basic income, or some other "throw money from helicopters" idea is the solution.