Because rampant consumerism isn't the issue. Most families are responsible with their money. Their greatest expense? Rent/mortgage which is pushed up by:
1. bankers issuing insane amounts of debt that out-pace wages
2. speculators borrowing from said banks to "invest" in pushing up living costs for families (ie people like MMM)
The media loves to portray people as feckless idiots but the real problem is economic rent extraction by people who are adding zero value to society. That is the rentier - they generate no wealth merely appropriate it.
Sorry to break the bad news to you, but rampant consumerism actually is the issue.
>>Most families are responsible with their money.
No, in fact their spending decision don't even remotely reflect any sense of responsibility.
>>Their greatest expense?
If you think, smaller delta spending doesn't matter. Alas, I'm sorry that's the whole point behind indulging into consumerism without even realizing you are.
>>Rent/mortgage which is pushed up by
Demands.
>>bankers issuing insane amounts of debt that out-pace wages
You always have the option to move to the city outskirts, where houses are affordable. It will take more effort to commute and all, but cheap has to count for something. And you could save money to borrow less.
>>real problem is economic rent extraction by people who are adding zero value to society.
Houses don't get build out of fairies dropping suitcases full of money outside people's houses. They earn it, work for it. And make investments.
You are all welcome to invest and grow. But just because you don't want to, it doesn't make others greedy and evil.
Housing money is not earned. It's made out of nothing by banks and then used to put a claim against a significant portion of a person's salary. As lending standards get looser prices go up.
Land speculators and money men capture all productivity growth.
I'm not sure what you are talking about. Price of a house is not some thing banks get to decide, at least not directly. They only get they to decide the amount of interest they should collect to stay profitable after lending you money that you borrow to purchase a house.
Price of a house apart from the raw materials depends on various thing like supply-demand factors. But that is the case with any investment.
If you are having problems with investments in general where people can get rich by starting small but growing non-linear with time, then you are literally ruled out to ever be rich.
1. bankers issuing insane amounts of debt that out-pace wages
2. speculators borrowing from said banks to "invest" in pushing up living costs for families (ie people like MMM)
The media loves to portray people as feckless idiots but the real problem is economic rent extraction by people who are adding zero value to society. That is the rentier - they generate no wealth merely appropriate it.