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Very accurate. The dysfunction of congress led to a much slower economic recovery after the GFC due to sequestration and partisan debt ceiling games. Then went far the other way with huge tax cuts, huge spending, followed by even more spending by the current admin, and claim surprise at the resulting inflation. If we do have a recession coming, we are in a very bad position to cushion it at the moment due to political partisanship.

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Low interest rates are supposed to make it easier to build new housing but instead zoning keeps getting more restrictive. People complain about Chinese investors buying up houses when they should be glad that they can use this money to build homes.

Local residents might think property values going up benefits the city but in practice wealthier individuals will be able to afford more houses and all of those increased property values exit the community when "mortals" move in and buy the house. The 700k paid on a house does not go to the community, it goes to some absentee owner/landlord in San Francisco or New York or some other major city.

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