Yet, we're not seeing increased housing accessibility with all those "inflated wages." There's a concentration on real estate leverage and rents, however. Following that big injection of funds into the investment sector, we've got 1/7 of the stock moved into rent portfolios and increased large-scale land-lording.
The problem isn't that more 'mid to upper' people have money; we have a pile of middle-men rent-seeking in every damned thing. Mid hasn't functionally had a significant cost of living increase in decades up to this point, and suddenly shifting a couple of points ain't what's killing affordability.
Those price increases are rising along with profitability at the top. It's a squeeze racket from increasing consolidation.