Interesting tidbit I read the other day..
“In Jan 2021, the 30-yr mortgage rate was 2.65% and average new home price in the US was $401,700.
Today the 30-yr mortgage rate is 5.25% and average new home price is $570,300.
Assuming a 20% down payment, that's a 95% increase in the monthly payment (from $1,294 to $2,519).“
All-in money printing totaled $13 trillion: $5.2 for COVID + $4.5 for quantitative easing + $3 for infrastructure. Mountains of money cause inflation.
13 trillion…and that’s just the US. Prez said it best, “it’s only just begun.” Unprecedented.