Regulatory burden doesn’t help, but I don’t think you should overlook the superabundance of cheap credit as a causal factor. If goods can be purchased with mone

Regulatory burden doesn’t help, but I don’t think you should overlook the superabundance of cheap credit as a causal factor. If goods can be purchased with money borrowed far below market rate (like a mortgage) because rates are not determined by a profit motive (ie political or social-engineering reasons), then the long term effect is inflation of said good’s cost. You see this same phenomenon in higher education (subsidized). You do not see it in automobiles (to my knowledge, there are no direct subsidies for auto loans). “The bay” has a particularly close proximity to cheap money for reasons so numerous they deserve their own book.