My reasoning: the FED will likely drop interest rates under political pressure and Congress will keep on borrowing money to stimulate the economy. We'll once again get the doubly whammy of inflation plus low interest rates driving demand plus failure to deal with zoning regulations.

@nsokolsky I'll take the other side of some of this. I think this is a reasonable take, but my intuition tells me that any return of inflation will be so politically unpalatable that it will severely limit the options available for Trump and the Fed. Americans hate inflation and are still nervous about prices, so I don't think the Fed will bow to pressure from the administration and be as dovish as you are expecting.

Argument against interest as a homeowner and asset holder, sorta. But I don't see big cuts on the horizon and the bond market seems to agree

Seems like that jump over the last 4 years is a low interest rate phenomenon... though my preferred reasoning for betting this down would be 'Lars will be astoundingly successful in creating popular support for a land value tax in the coming years'