Yes,N.Y.C. still has rent control, which only L.A. still has. Boston just got rid of it, but hasn't gotten riod of other rules, which is still giving that city nightmares. There are MANY places, in the USA, where housing costs are shockingly sky high. Many people still want to live there and would be as disgusted to have to live in the places YOU listed, ( Moline ? Moline, Ill. ? You've got to be kidding and who wants to live in Cincinatti or Milwaukee , for crying out loud ? ) , as you are about N.Y.C. !
Your anecdotal story about your Ford, is silly. You use 1972 dollars and then glibly say : " Try doing that now ." Apples and oranges; not at all material, germaine, or relivant. Try using the same dollar amounts; your way is junk economics at best.
You want anecdotal eco ? Okay...my grandmother got married in 1916. Her satin wedding shoes cost $15.00. In 1915, the average pay, for a man in N.Y.C. was $15.00 ! My story, at least, makes the family story relivant and understandable; unlike your's.