It’s basically Piketty’s thesis. His argument isn’t about QE directly, but wealth inequality. Rich people have much more money than they need to live and there

It’s basically Piketty’s thesis. His argument isn’t about QE directly, but wealth inequality. Rich people have much more money than they need to live and therefore must spend their money on assets and other such things to avoid depreciation. They don’t just buy a massive house to live in, they buy properties, which drives up house prices and rent. They also finance mortgages, which enable poorer people to afford more expensive properties by putting themselves in more debt to the rich. Extreme wealth of a few therefore has a direct impact on the price of essentials for those with less money. QE isn’t directly responsible for house prices increasing, but the pandemic measures effectively transferred a vast amount of wealth to companies, shareholders and banks, rapidly making inequality worse. He claims that the most equal time in British history - with the most affordable housing - was post-war 20thC, pre ‘80s neoliberalism and prices of assets have been creeping up since.