Will post-COVID New York City and San Francisco end the 21st century as ghost towns? Or will they be transformed from centers of commerce into mixed-use living space?
I chuckle when the current interest rates are called “too high.” This attitude is the result of banks and businesses being addicted to the free money that followed the Great Recession. My first mortgage, in early 1988, was for 10.125%.
In my opinion the Fed should leave everything as it is. Let the markets adjust to the long-overdue hike in rates and the end of quantitative easing. Once again I point to Frontline’s “Age of Easy Money” from a year ago. Where’s the recession that so many were predicting from the higher interest rates?