>>60961369
It doesn't matter if banks are privately owned, they are backed up by the central bank, which is run by the government. The system itself is a socialist system, banks are basically the retailers of money that is produced by the central bank. It's inevitable that asset prices will grow disproportionately when you have central banking and fiat currency.

Anyway, look at pic related. See that big spike that peaked around 2007/2008? That was US house prices but they fell due to the "GFC". We didn't get that impact so ours kept growing.