As an enrolled university student for about three more days, I have access to the Financial Times. The Financial Times did an analysis of World Happiness Index and found that young people across English-speaking countries (US, Canada, UK, Ireland, Australia, New Zealand) are sadder than people in Western Europe. Well, that was the headline anyway, but when I look at the graph it is really just the US and Canada that are the outliers, with the US far worse (of course). US people are very, very sad in their 20s and 30s, and then start to cheer up a lot in their 40s. Of course, this is a snapshot in time and it doesn’t actually mean today’s young adults will cheer up, or that today’s older adults were not cheerful when they were younger. Anyway, this author concludes young people are sad because they don’t own houses. I don’t know, I have owned and rented, and both caused me different forms of aggravation and sadness. But not being able to afford the lifestyle you feel you want or deserve, or conversely stressing yourself to the breaking point so your family can just barely afford it, is a recipe for unhappiness. So it may be true that housing affordability is a good indicator of happiness even if not the root cause. And as for old people, of course they own those high-value houses and that makes them happy! Sure, they have to pay property taxes on those houses, and they complain bitterly about paying taxes. They also go to those NIMBY meetings and complain bitterly about new housing construction that might create more supply for young people. But remember that complaining bitterly is also a thing that makes old people happy! (Sorry, I just got ambushed by a very grumpy older relative over something I have no control over, housing related in fact, and I am feeling grumpy myself as I sit here 44 days before my 50th birthday!)