2015 VW GTI SE
I'm not an economist but I think home builders and local municipalities are to blame here.And here's a chart of median house prices in the US over the past 18 years. Mortgage and finance rates are a couple percentage points higher too, so people entering the market to buy a new home and car today are paying like 3x more per month on the combined payment. Definitely not sustainable, and the cracks are already appearing.
My early 1950s house was built specifically for post-war workers/families. It's a very small house, by modern standards, but it is affordable to finance, heat, and the taxes are laughably low.
Those types of houses and neighborhoods haven't been built, in my area, in decades! In the 80s, luxury townhouses and McMansions started to dominate the new housing market. Townships could charge higher tax bills to these bigger and more expensive properties, and the builders could obviously charge more to sell the things. Now, it seems like every new housing development near me is starting at $500K for a mega townhouse and higher for detatched luxury homes. I'm pretty sure my township is losing money on my neighborhood of little post-war bungalows, and will probably bulldoze the lot of them, to build luxury homes.