The housing cost problem is largely obscured by the predominance of owner-occupied housing among middle-aged middle-class people who think of expensive housing as “wealth” and investment profits. That perception is a mistake. In order to sell your house, you need to find another place to live. Higher overall house prices can’t really make you richer unless you’re willing to move into your car or your parents’ basement. If you own a home and the price of buying a house rises faster than the price of renting one, then you can make money by selling your home and renting a new place.