>>66796
>Sales for big ticket items like houses and cars are in an all time slump
What I said below applies to houses too, mutatis mutandis, but I answered it below first before I engaged this part. Oh well.
Cars haven't gotten cheaper, not when you take the features into account. People pay more for cars because they want them with six airbags, safe for crashes, with ten USB-ports and HDMI (somehow), and heated seats. And new cars last about twice as long as they did thirty years ago, too. So once more, you get more for your money.
>and rents are exceeding 50% of people's incomes
Zoning laws. Price controls. No wonder rents are high when you can walk down a street and see five foreclosed businesses that someone could've rented out, all the while rents are too high. Problem is, you cannot just rent something in a business zone, instead you gotta move two meters to where the resident zone begins. And add to that the fact that the population has risen fivefold since the early days. And the thousands of square miles of vacant government property.