I just saw a Bloomberg article breathlessly criticizing the Fed for "creating distortions in a market where many Americans have their wealth".

Bloomberg, have you considered that housing is supposed to be a place to live and not an investment that outperforms inflation?



As a condo owner, let me be the first to say that I will be *happy* if my condo goes down in value by 50%, because I live in it and its "value" being high is an actively bad thing for me because of property taxes.


The "value" of housing only matters to two groups of people: people who need housing but don't have it, and people who think that having three or four AirBNB "investment properties" make you "middle class" and not wealthy beyond most people's dreams.

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