That, and people who were born this century have no idea about the immensity of housing inflation. In 2007, a 1-BR apartment in Hanover, NH was USD 750. With

That, and people who were born this century have no idea about the immensity of housing inflation. In 2007, a 1-BR apartment in Hanover, NH was USD 750. With official inflation at 3 % that would be now something like USD 1325. Good luck finding anything below USD 2250 these days. That's 7 %, more than double headline inflation. It's a complete policy failure, also because housing is about the most unproductive kind of investment there is.