QE3 and Real Estate - Your thoughts

[Abdul R.]

As you may have heard, today Fed annouced QE3 of 40B per month (i.e. printing press) with no end in sight. Precious metals soared instantly along with the stock market. I wonder what it means to the real estate market. Increased money supply and currency debasement should mean property value is going up. However I can't see how this work out with economy still in the recovery mode (people with no jobs, jobs with less wages and/or jobs with insecurity). I am new to real estate. I am curious to know what the experienced real estate investor has to say.