Hacker News Reader

Absolutely correct.

The best way to fix the problem is to keep interest rates high and work against inflation.

The last 25 years of essentially free money has people with their heads screwed on backwards.

Increasing mortgage rates is a poor mechanism for countering inflation. It only directly impacts a minority of the economy and private companies (banks) earn the profit.

Unfortunately the other available lever is congressional action in the form of tax increases and wildly increased public housing funding. Both of which are never going to happen.

Reply on news.ycombinator.com