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unless you own land and manage not to sell it to buy food, you should not assume that you will still have your current lifestyle in ten years. even if you are of the rentier class, you should not assume that there will be enough people who can afford your prices in ten years.

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The US population has gone from 150 million in 1950 to over 350 million. This has been accompanied by a huge migration from rural areas to the city. There is no way house prices could not go up but there is always going to be a limit on how much things increase by before they stop selling because the buyers vanish.

The more interesting question for me is once the baby boomers start dying off and population growth becomes a big fat negative is what will happen to property prices.

your population won't shrink, you'll import the third world first.

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