this post was submitted on 05 Apr 2026
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Not every white person had a house either, and if they didnt then their family ended up losing a lot of compound growth, and ended up poorer as they payed somebody elses mortgage. What really happened I think is the lack of class mobility due to the financialization of everything, due to unlimited money printing and corporate bailouts.
The average mortgage was 7 years historically and somebody saving a ton could pay it off in under 5 years, instead of the massive 30 year loans backed by the govenment we have now. Its like as we got richer and more productive we simultaneously became poorer and can barely house ourselves, as food quality got cheaper with shrinkflation and industrialization.