Canada

Yes and no. Early Canada saw, by and large, equal contribution across the entire population. The establishment of such oligarchs was most efficient and inconsequential as everyone was already operating in their own lane. I give you food, you give me shelter – we are in balance – you need me as much as I need you.

Oligarchies become a problem when some segment of the population starts to become useless. You give me food, Bob gives me shelter, and in return I give... a pat on the back? That doesn't fly. It is true that without the encumberments that lead to oligarchies, I too can start to provide food and/or shelter, which is something. But we would all be better off if I started offering something entirely new; something that will change the world.

Going back to university for a moment, it was once believed that university research labs would promote R&D into those entirely new things, giving the useless segment of the population a chance to restore balance. This is where the idea that university will lead to higher incomes comes from. It wasn't a bad theory, but of course it never panned out. Incomes have held as stagnant as can be and balance was never restored as people clung to the classroom instead of the research lab.

So, in theory, if people started doing things it could solve the oligarchy problem by offering the aforementioned balance. But I agree that Canadian's don't have it in them. It goes against the social fabric of Canada to try new things. We are very much "Go to school, get a low paying job, and pretend that you are happy." and any deviation will feel the full scorn of the society's disdain.

Housing is money's place of last resort, but if that's all that you have remaining to offer, that is for sure where it will go.