/biz/ - Business & Finance

Ok seriously. So here's some statistics for you /biz/nessmen:

>median house price 1970: $23,600
>median income 1970: $9,870
A house cost ~2.39X yearly income

>median house price 2019: $315,000
>median income 2019: $63,030.00
A house cost ~5X yearly income

Everyone knows this. Nothing shocking here, I realize.

But here's the thing: the price of houses (and other shit, cars, etc) just CONTINUES going UP. Even out where I live, in the middle of the bumfuck nowhere midwest US.
And I mean BUMFUCK NOWHERE. Meth addicts everywhere, a "good job" here pays like $30k a year.
And yet, houses are selling out here for $100k+ now (and I'm not talking mansions here. I mean like decent 2 bedroom houses on fairly minimal plots of land).
Surely the meth addicts with 30k a year jobs aren't buying these houses. So who the fuck is? Makes absolutely no fucking sense whatsoever.

As far as I can tell, incomes just keep going down, and prices just keep going up. As the statistics above show, this has been a trend for a long, long time. Seems like it should have reached equilibrium by now, though. And certainly, prices shouldn't be going UP in my shitty little town. There's less jobs here than ever. I just don't get it.

So my question is: why is the price of everything going up? Is this normal inflation? What in the actual hell is going on?