1. People in the west believe in shitty govt programs.
2. To finance these programs, they have the state impose a central bank that effectively has the ability to print up money and loan it out at below market interest rates.
3. To protect themselves, people stop saving in currency, and start leveraging themselves into assets, like housing, effectively changing a home from a place to live, to an "investment".
4. To protect their investments, people start to put an immense amount of pressure on the system to up their property values, such as permitting, land use, and zoning laws.
5. This makes housing unaffordable to large populations, and creates a homeless problem.
6. To "solve" this problem, people demand more govt programs. Go to step one, rinse and repeat.