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Is everyone pretending to understand inflation (or just me)?
Mark Blyth
So if you're making the interest rate on mortgages more expensive, less building and construction is going to go on. A certain number of apartments and buildings just die every year. They're usually replaced. If it's too expensive to do the replacement cost, guess what? You've got a shortage of rentals. So what are you going to get? You're going to get a supply constraint.
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