basically, yes. Its called the housing market - an asset that controbutes nothing to the economy goes up in value and makes life unaffordable for new generations.
There are pther manofestations of thos, and it is not always done by governments.
One of the few true reflections of economic health is commodities - those cannot be fakes.
Sure, but you also have to consider the proximity to where the productivity gains are happening. The median household income has increased 4 times over in SF since 1990 (30K - 120K). Do you really expect property values in SF to stay the same? And of course, that's just the median. At the high end, the difference is even more pronounced.
