Maybe I exagerated a little bit. but SD housing has increased about 200% in the last decade. that’s about 10% /year. so for first time home buy, the inflation can be considered to be about 10% /year for the last decade, or equivalently 15% for the last 7 years.
Combining this with the M3 expansion, I’m not surprised that the interest rate has just broken a 20 year down trend, and started rising recently, panicked many on the wallstreet.
