Water
Boomers control all of the wealth. All of it. Next time you see some old 60-70 year old motherfucker driving a 120k-150k mercedes, bmw, or lexus. its because of them. After you pay 2k-3k rent in America and you see those boomers, remember how much you just paid for rent. People fall into despair because of their shitty lowing paying jobs, abuse drugs, and then end up homeless.
2-3 rental properties are not enough for old boomerfags. $45,000 per year passive income is not enough for them. Plus they want their property values to increase, not decrease. The main way they go about this is through local zoning laws which prevents new housing units from being built. Lower supply means higher asset price. In this case houses are a speculative commodity/asset to them.
Also they've found out through the decades that rent control is a good and bad thing but it tilts slightly in their favor. You see rent control is a deterrent for developers to build homes in their localities. The developers don't see any profit in cities with tough rent control laws. The bad thing is that obviously rent control limits the passive income of the landlords but at least it beats more homes from being built.
Boomers will die out within the next decade or two which is a good thing. Its a great thing actually.
As for now zoomers and gen Alpha are screwed. Owning a home is a distant dream for the vast majority of them. With automation getting worst and worst every year, they're even more screwed.
Ever wonder why there's this silly meme coin craze recently in the crypto space?