Oh, a simple misunderstanding! I was arguing against the central bank controls on interest rates that have so distorted to the property market. Glad we cleared that up!
In fact, my post said nothing about interest rates currently being set on a free-market basis, because the whole point was that central bank interventions are distorting and setting those rates in a way that generates huge inflation in the property markets that is then treated as insignificant for purposes of calculating inflation statistics. Property inflation --> Rent inflation. Concentration of wealth + Rent inflation --> Rent control | Homelessness.
In fact, my post said nothing about interest rates currently being set on a free-market basis, because the whole point was that central bank interventions are distorting and setting those rates in a way that generates huge inflation in the property markets that is then treated as insignificant for purposes of calculating inflation statistics. Property inflation --> Rent inflation. Concentration of wealth + Rent inflation --> Rent control | Homelessness.