3 ms·

Let's not forget ZIRP and how it was an incredible boon to landlords. The Fed doesn't seem to care about rent inflation, or asset inflation, because in the agg

Let's not forget ZIRP and how it was an incredible boon to landlords. The Fed doesn't seem to care about rent inflation, or asset inflation, because in the aggregate it's not that high, but in a number of cities rent is bleeding the middle and upper middle class dry.

kevinburke 9y ago
In theory low interest rates encourage borrowing to build more, but we haven't seen the "building more"; CA added 2.3 million residents since 2010 and only 400,000 housing units. The problem is much more about local cities and NIMBY's having too much influence in the planning process.