The cost of housing is insane, but most of that has to do with the houses being too big, too much stuff in them, expensive to heat and power all the gadgets. Everyone has to have their own washers and dryers, dish washers, fridges, freezers, fancy ranges, barbeques.... it is endless. You need an endles liteny of stuff to make life easier so you work harder to get them. It is an endless tread mill of self imposed slavery. It is not really the cost of living that went up, it was the idea that you can't live without all that crap.
Nonsense. My parents have downsized twice since the kids started moving out and the houses kept getting more expensive as the houses got smaller. The real reason for dramatic increase in prices has to do with the changes in mortgage qualification. At one time you needed 25% down and could only get a twenty five year amortization. The changes to those rules meant more people qualified. More buyers meant more demand. Couple that with more and more professional developers and less and less municipal development.