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uncomfortably numb,
I like your inflation and money supply explanations, but is what you’re saying equivalent to:
1. So Cal house prices (in dollars) went up because of easy money and will go down because there will be less easy money
2. When prices went up, sellers and the RE industry won immediate gains at the expense of buyers’ future spending power
3. One dollar will buy less foreign currency in the future
Or is there more?
Patient renter in OC