> I thought that QE was going to lead to a lot of inflation, and it hasn't seemed to.
A major point of QE was to lead to significant inflation compared to not adopting the policy; without it, the projections were that significant deflation would occur.
So, it netted to very low but positive inflation, as intended.
> Even then, I'm hesitant to say that it's primarily responsible for the rise in housing prices because I think demand from my generation (millenials) is helping to cause the sharp spike in markets such as NYC LA, Atlanta, etc.
There's no spike, just a smooth continuation of a trend that has existed during most economic expansions (and even some recessions) since at least when Gen X were children.
A major point of QE was to lead to significant inflation compared to not adopting the policy; without it, the projections were that significant deflation would occur.
So, it netted to very low but positive inflation, as intended.
> Even then, I'm hesitant to say that it's primarily responsible for the rise in housing prices because I think demand from my generation (millenials) is helping to cause the sharp spike in markets such as NYC LA, Atlanta, etc.
There's no spike, just a smooth continuation of a trend that has existed during most economic expansions (and even some recessions) since at least when Gen X were children.
See, e.g., https://fred.stlouisfed.org/series/NYSTHPI