>>17754063Under Stalin it wasn't uncommon for several families to share a home or an apartment, so called kommunalkas were noisy and stinky, since bathing facilities were limited and opening windows is not an option in winter. If we assume that Stalin achieved a utopia where the workers kept the full value of their labor, modern Americans are still an order of magnitude wealthier so it doesn't really prove anything.
>>17754498>there is a complex market mechanism behind it which you apparently don't understandThis really isn't difficult to understand. If someone earns $100k and spends $60k, they have contributed $40k to the economy. If over 5 years they accumulate $200k and buy a property, they are creating a demand for new homes, no different from people buying ice cream create a demand for it.
If they then rent out the property, it is no different from staying at a hotel. For whatever reason the tenant does not want to take out a mortgage, just as you do not buy the hotel you wish to stay at for a few days. In a way it is no different from buying ice cream, you could buy grazing land, a cow and an ice cream machine and do it all yourself, but instead you buy the finished product from an ice cream vendor, just as you rent a home.