Housing demand has many inputs, only one of which is low interest rates. It's not like we've exhausted the economy's capacity to build... NIMBY policies and a g

Housing demand has many inputs, only one of which is low interest rates. It's not like we've exhausted the economy's capacity to build... NIMBY policies and a general demographic shift towards living in cities (which may be reversing) are also to blame. Inflation has myriad causes and money supply is the culprit only when you have too many dollars chasing an at-capacity resource.