> It's a complete mystery why inflation has run amuck. The CPI inflation rate is 3.4%, and it's been under 4% for a year. House price inflation is at almost 6

> It's a complete mystery why inflation has run amuck. The CPI inflation rate is 3.4%, and it's been under 4% for a year. House price inflation is at almost 6%, and it's been above 4% for more than 10 years. The lowest house price inflation rate during Trump's presidency was 4.4%. Excluding the financial crisis, you have to go back to the mid-90s to find house price inflation under 3%. Pandemic-era fiscal policy and college loan debt cancellation is not helpful as an explanation for the explosion of house prices.