Quote:
Originally Posted by Leo the Dog
That's not what I said at all.
However, ZIRP/NIRP have fueled this boom, 100%. Just about every single city has experienced massive growth due to easy access to abundant, cheap money. Of course cities would've still experienced growth and development, but not at this level.
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I don't want to hijack this thread but you have a fundamental misunderstanding of monetary policy. An interest rate is just a price, it's not really best understood causal. It represents an equilibrium between supply and demand for capital. Right now we live in a world awash in savings with not enough investment opportunities to put those savings to good work, so we have a falling equilibrium rate which is why our rates are so low AND we have record low inflation.
If the Fed were to announce tomorrow that they're jacking up rates tomorrow it would slow construction, yes, but only by reducing national income.