Rob Hamilton (AnchorWatch) on Inscriptions & Bitcoin Miniscript
Galaxy Brains
The Wealth Effect of Inflation
New mortgage applications are down about like 40% year on year. And that's because they have good jobs and credit cards if you have a loan. You're locked in at a low rate and home prices have been appreciating in a lot of places. But it's also there's just the wealth effect, right? The real wages aren't actually keeping up with inflation. They're not.
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