Cheaper debt can be canceled out by higher prices. The fact that home values correlate so strongly with interest rates is very tellling. I think the net effect

Cheaper debt can be canceled out by higher prices. The fact that home values correlate so strongly with interest rates is very tellling. I think the net effect is simply higher asset prices and a greater portion of society's capital locked up in land. Easy money via debts is making every household more levered and more exposed without fundamentally improving access to housing.