[tootahe45]

Is it really a bad take? my parents & aunt had 28,34% gains respectively on the value of their main properties in just 1 year. I'm going to have to pay for that (or settle for a lot less living space) if i want to own anything here in the future. Definitely feels like a wealth transfer.

[usrusr]

Yeah, inflation tends do that. The pandemic has been good fuel for inflation and continues to do so, but the fire would have burnt anyways. The fire is monetary policy trying to force growth no matter what. And why is growth forced? Because it's the only way to allow the poor to slightly improve without questioning the endless accumulation of the wealthy.

[janeroe]

> The pandemic has been good fuel for inflation and continues to do so

Not just some abstract "pandemic" but specific policies adopted by specific people. Don't turn it into a Hegelian providence as if no one is responsible and it's a self propagating process that would happen regardless.

[astrange]

It's because

- people couldn't go on vacation so they all switched to buying durable goods at the same time. (that's why supply chains don't hold up, it's a crisis of abundance not deprivation.)

- workers in some industries died (like meatpacking) or quit (like restaurants).

- we haven't built enough houses since 1970 and everyone decided to buy a house at once.

It's not because of stimulus though; making people poorer so they can't buy cars is not a good solution to cars being too expensive.