[jmyeet]

I would say 30 year fixed mortgage is one of the few things the US does right. Housing shouldn't be an investment and you shouldn't be able to hoard land to raise prices. As Xi Jinping said, houses are for living, not for speculation [1].

We have an affordability crisis. What good would increasing mortgage payments do when housing is one of the biggest single expenses? The point of raising interest rates is to take the economy off the boil, essentially by cutting down on discretionary spending. Grocery prices are up 30%+ since the pandemic. Are people eating too much? Can you eat less? Consumer demand isn't doing that. Various forms of dynamic pricing (eg surveillance pricing) are doing that. The only reason for dynamic pricing to exist is to raise prices.

Beef prices in particular are through the roof and the only reason is price collusion. Meat packers have been sued by states about it. The root cause? AI. They're using the same AI system to set prices so the AI company has access to all the pricing information. That's the 2020s version of collusion. It's the same thing with RealPage and landlords. And something's gotta give. This system is unsustainable.

[1]: https://en.wikipedia.org/wiki/Houses_are_for_living,_not_for...