[jajag]

The cost of housing is not low. For one thing, a lot of people can't get a mortgage due to deposit amounts being higher (because of higher house prices) and so are paying over the odds in overheated rental markets. On the other hand, those that can get a mortgage might be paying lower interest but they are still paying larger amounts overall because of the higher house cost.

[emn13]

Yeah, not disagreeing with there being a problem. Just saying that it's a little more complicated than "stagnant wages + rising prices = boom". Because it's nontrivial: what's the best fix? Does it render the jobs boom irrelevant?