[kiba]

The wealthy aren't exactly hoarding the money under their bed. They buy treasuries and bonds so the money get used elsewhere in the economy to do something.

The federal government's credit card is funded by the saving of the rich, which allowed us to run up huge debt.

The vast inequality you seen is the result of undertaxation of monopolies and deliberate granting of monopolies. Disney wouldn't be as big if copyright actually expire some 20 years after the fact.

Anyway, the billionaire are less relevant to you than the average homeowner next door. They are the one who hold further infill development hostage and are inimical to anyone who would depress the value of their home.

[WalterBright]

High housing prices are the result of a housing shortage. The shortage is the result of government zoning, regulation, and slow-walking building permits.

(Apparently California has only issued 4 permits so far for people to rebuild after the fires.)

[sien]

Which worth comparing to Texas where building is allowed.

Texas's population has also gone from ~20M in 2000 to ~30M today.

With no zoning a place like Houston has shown what can be done by encouraging building.

Austin recently has also done well with allowing more building.

[kiba]

Luxuries are cheap and getting cheaper. Basic necessities like housing are increasingly expensive. That's where most of the inequality is being felt by people.

That's why we're in this predicament.