When we have high unemployment like we do at the moment, falling real wages in the economy is a good thing as it will lead to lower unemployment ( demand for labour is depended on price of labour) Tho I know some pinsters believe this to be old school economics and what is needed for lower unemployment is everlasting fiscal borrowing.
For the property market, there’s your mid level renter cohort with falling incomes. They won’t be FTB’s for about another 10 years, but their income starting point is lower than those during the bubble years.
Jesus BH, the only way is up man! Haven’t you heard we suffer from cognitive dissonance and confirmation bias and groupthink and god knows what else! About time you realize it’s only going one way and stop prettending the opposite!