1. Inflation goes up. 2. Fed raises rates in response. 3. Mortgages get more expensive. 4. Rents, which compete with mortgages, get more expensive. They are

1. Inflation goes up. 2. Fed raises rates in response. 3. Mortgages get more expensive. 4. Rents, which compete with mortgages, get more expensive. They are also part of core inflation. 5. GOTO 1. I left out the "break" involving massive unemployment and political unrest.