True, but since the financial crisis the Fed has given the banks more money than they know what to do with, and they don't lend it to "people". Corporations, financial firms, big institutions, and homebuyers receive the money. Small to medium sized businesses and everyone else don't see a dime unless it "trickles-down".

The global housing market has been inflated from the centralized funding, high demand (from the very low interest rates), and lack of supply (due to supply chain and production loss from Covid). I just hope people realize the interest rates will eventually rise. It's going to be a mess if they haven't thought about that.