Modestly high interest rates are the only way to break the growth of income inequality fueled by low interest rates.
There are other factors boosting real estate prices -- more people desiring to live alone, ease of renting an unused property via Airbnb, people living longer, massive wealth generation via stock markets -- but a low-rate environment offers existing wealth much more leverage to grow.
There are other factors boosting real estate prices -- more people desiring to live alone, ease of renting an unused property via Airbnb, people living longer, massive wealth generation via stock markets -- but a low-rate environment offers existing wealth much more leverage to grow.