It would seem logical that wage growth can create constraints when you look at the market as a whole. Obviously not everybody (that is reliant on wage income) can continue to fund the higher costs of growth properties. But measuring how it may be effected by lack of credit etc is a difficult...
Where you guys continually fail in your efforts to disprove supply/demand arguments is that you automatically take the stance that the individual in question cannot have the cash in hand in order to pay the higher price that lack of supply and higher demand have resulted in.
Remove that premise...
