[westwing]

Look at tax/insurance burden in all these developed and aging countries. Most of that money is going towards paying off the older generations, their ailments and their debt, and it's still not enough, debt just keeps growing.

Then look at the tax/insurance burden of developing countries. Sure, these people earn nominally less, but they often live relatively better lives. They're living lives closer to what our boomer parents lived.

Real estate prices are a distraction. These are high because interest rates are low. It's probably not a good idea to buy real estate even if you can afford it.