This is extremely well put. I don't like a lot of the parts of the present Western economic and political systems. I vote to change them. That being said, I make a really good living and use the system I vote against as long as we have them.

I have profited immensely from gentrification. 17 years ago my wife and I bought two properties in a working class neighborhood, with indoor garage spaces. I already had one mortgage. Having 3 was a stretch at first.

Over the last years I've made a rough phtographic record as one two story ex-farm house (the standard here 100 years ago) was torn down and replaced by a 4 or 5 story apartment building. Through this gentrification plus inflation, our flats here (the 3rd is in another part of town, but also has benefited from gentrification) have increased in value between 50 and 100%. Particularly owning two garage parking spaces was a very wise decision as parking gets tighter and more expensive every year.

So this is all great for us. Our son will inherit these properties (hopefully not for a long time)...but what about his generation? My son is only a few years younger than I was when I bought my first flat. He makes a salary (I was very lucky with my income). Without us neither he - nor his friends without family money - could ever afford to buy a decent-sized flat in his neighborhood.

Long term this system is unsustainable. Short term it is horrendous. Those of us lucky enough to have gotten into the top 5% or so will be able to stay there, and our kids if we don't have too many of them and/or they don't develop expensive addictions. The bottom 85%+ are screwed. We're all becoming Brazil.