And who's fault is it?

I have been telling my coworkers and friends for years that these salaries are not sustainable for 30 years and everyone called me a pessimist.

It's not hard to see that the "good times" and "gold rush" can't last forever. The fact people lied to themselves thinking it's permanent should teach them something about themselves.

Probably, but this is exactly what main street America has been dealing with for the past 40 years: buy a house close to your great job, but now your industry has gone elsewhere for cheaper labor and you're now underwater on your mortgage and even basic city services are going downhill.