The "transitory" comment is of course correct. Inflation cycle, Business Cycle or even our life cycle is some what predictable "Americans have turned decidedly gloomy about their financial outlook, and inflation is the main cause of the anxiety, according to a survey released Friday.The University of Michigan reported that its survey of consumer sentiment fell to its lowest level in a decade in early November. It attributed the decline to “the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation.”Hampered by supply chain disruptions and labor shortages in some industries, the economy has been straining under rising prices. The government this week reported the steepest inflation in 31 years, with a 6.2 percent increase in prices in October from a year earlier."
My bet is interest rates are about to pick up a LOT faster than almost all current people buying over priced real estate will cope with. 1989 all over again?
