Everyone’s favorite topic lately is how much housing prices are up ... or how much the stock market is up. But guess what's gone up more than either the past 20 years? The money supply. People don’t talk about money supply as much. They should, though. Just since COVID, the Federal Reserve has grown the money supply by 34%. Should it surprise us to see that housing prices and the S&P 500 are up roughly the same amount (34% and 36% respectively)?* We believe there will be co