Except that before the “I’ve Never Seen A Bubble” Federal Reserve and “Everything’s AAA” Credit Agencies got involved those prices were closer to $60/sq foot. T

Except that before the “I’ve Never Seen A Bubble” Federal Reserve and “Everything’s AAA” Credit Agencies got involved those prices were closer to $60/sq foot. The massive amount of QE since 2008 and 2020 has sloshed into the housing market. The saying used to me that “all real estate is local” meaning that economic trends didn’t dominate local economic trends. Today it’s completely dominated by the Fed. https://fred.stlouisfed.org/series/IASTHPI https://fred.stlouisfed.org/series/IASTHPI