Let's not let the federal reserve off the hook with insanely low interest rates for so long.

Zero interest rates also meant construction was cheap. The fact that we didn't construct anything using them was the problem. Higher interest rates are going to make that worse unless we have more public housing investment.

It's important to realize that the GOAL of the Fed was to raise inflation, but since they can't create money (only change rates and bond terms) it affected primarily financial assets... so we have had financial asset inflation since the dotcom boom (and entry of China into WTO) because of the Fed mandate. For long term growth we should have spent money (eg on broken bridges and infrastructure), but that requires congress to allocate funds so instead it was all monetary (and tax cuts).

The only thing I would add to your comment is that it was all on purpose. As you note, the inflation was on purpose. But also the not repairing our infrastructure. That was on purpose too. It was the greatest wealth transfer from the common people to the wealthy that has ever happened in the history of the planet. The biggest mistake people make is believing this was all just "incompetence." Mistakes of this magnitude are not made innocently.

True but inflation was triggered by the Russian Invasion of Ukraine.

Inflation was at 7.8% the day before Putin's Price Hike.

Better with a source but you are correct. https://tradingeconomics.com/united-states/inflation-cpi#:~:....

How about inflation was triggered by a combination of COVID supply change problems and further exacerbated by sanctions placed on Russian due to the Ukrainian invasion.

How about: Politician will lie about anything to get elected.

The day before the invasion we were looking at 6% inflation with everyone expecting it to get worse.

The day before the invasion everyone knew it was going to happen.

Apart from Zelesky apparently.

You're absolutely correct. Bullwhip effect was temporary inflation (but less likely to shift expectations) and then Russian (and OPEC+) effects on energy costs (which are likely to shift expectations and wages). The Fed has been trying to get inflation up since 2008... and have stated that they will target "average 2%" inflation over an unspecified term. Since inflation has been below that for a long time they wanted it to run hot. They want to inflate away some debt, just without imploding banks/insurers.

No politician wants to admit that the source of housing inflation is the government: ZIRP, QE, stimulus, deficit spending combined with ever greater regulations and restrictions on land use have fused together into ever rising housing prices.

It appears that no sensible politician is willing to admit the problem let alone propose comprehensive solutions.

I idly dream about overturning Euclid v Ambler and its follow-ons.

I actively dream about this. Hard to believe it is constitutional—-overreach of police powers.

65% of voters or thereabouts are homeowners iirc. Untouchable.

Most voters don’t see housing price inflation as a bad thing. They see it as a good thing because it means their net worth is increasing.