This piece has some extreme assertions. That the US housing market is in bad shape is an extremely slanted statement. Housing prices being hugely inflated is ca

This piece has some extreme assertions. That the US housing market is in bad shape is an extremely slanted statement. Housing prices being hugely inflated is causing huge damage to the poor and middle class, is greatly exacerbating inflation, and is caused in part by unsustainably low interest rates. Prices coming down is not merely a good thing but in fact essential. Rising interest rates are as explained a desperate attempt to fight inflation. That this would force other banks to follow is inevitable. That the global transition off of radically low interest rates would eventually happen and be quite painful has long been known. This article is completely misguided and wrong about what is happening and why.