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Feb 23, 2022Liked by Peter Nayland Kust

Yeah, the housing market has been nukcing futs. But there are major differences between now and the mid-late 2000's. The quality of mortgage credit is much better than it was then, and substantial portion of purchases have been all-cash. So I do not think it will be the housing market that leads the credit-collapse this time. It will be other, over-leveraged portions of the economy -- businesses with a lot of debt that they can't service at higher rates and so on. Then of course there's the 30 trillion pound elephant in the room...

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Feb 23, 2022Liked by Peter Nayland Kust

Inflation is strictly a monetary issue, imho...

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