[kimdouglasmason]

Even better, once house prices stop outpacing wages and the average Joe realizes, we'll be in the situation where it is much cheaper to rent than buy, and stuff the difference into an index fund, which will yield much better than housing capital gains.

At that point, you're looking at long term house price declines which only stop when buying becomes cheaper than renting.

The next 30 years are not going to look like the previous 30 in the west. However, consumer goods will keep getting cheaper.