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And the landlord step is further accelerated by the overseas wealthy using sf real estate as a secure bank account compared to their home country and hedge fund

• narrator 11y ago
  The "overseas wealthy" is the trade deficits we've been running for the past 30 years slowly trickling back into the U.S asset markets. We were able to export our inflation for 30 years and it was all piling up in foreign central banks as treasury bills. Now, with very low interest rates, it is going into any asset that's not a bond. If the dollar index starts to go the wrong way, watch out, that little stream of overseas dollars buying into U.S assets is going to become a flood.