In the immediate term, high interest rates are weighing heavily on the construction industry. But labour shortages and outdated construction practices are also causing bottlenecks.

Again, I question the utility of raising interest rates after a certain threshold. They are a blunt tool that might curb back inflation, but it seems there are diminishing returns as you crank interest rates up. To that, the negative effects might be outweighing any future benefits of raising them further.

When something is in short supply and you need it, raising rates simply harms the people who are going to have to buy that good or commodity anyway, or send them into a situation where their quality of life is destroyed because they cannot afford housing, or whatever it is. In this case, housing prices seem to have stabilized at an incredibly high point, mortgage rates have made it even more difficult to afford a residence, and now the construction industry is questioning whether it can afford to ramp up production. The fuck is this?