[travisathougies]

> Stimulus/Rescue: I heard a stat on a podcast that said the vast majority (maybe 2/3?) was unspent, so it seems unlikely this is a major driver.

What does it mean to be 'unspent'? If it's put into bank accounts and banks risk the money on mortgages or something, then it gets spent by proxy, and drives up housing costs as banks seek to create new loans

[camgunz]

That's an interesting point: stimulus as bank subsidy. Maybe in that sense it is a major driver, not because like "this is what happens when you just give people money" but because there's basically no way to give people money without giving banks money, so it's more like "this is what happens when you give banks money". Very interesting!