[Melas]

But if homes aren't affordable, then why are new home construction and home ownership at all-time highs? Why is there no demand for small, "affordable" houses, but a huge demand for McMansions?

I would like to see some figures on blue collar ownerhip. I can't prove it, but I have a hunch that in the last 40 years, home ownership amongst blue collar families has fallen off markedly.

[Age of Reason]

Houses cost so much because mortgages cost so little.

And also because in the most expensive regions, because both spouses usually work.

Nonetheless, I know plenty of young working couples, both with master's degrees, who today can barely afford to buy a home like the one my high-school drop out factory laborer cousin with the stay at home wife, bought in 1963 at the age of 24.