Runaway inflation like we've experienced this year could be around a while.
"Quite a while I'm afraid, it'll certainly settle down… …in terms of when, I think we're a couple of years out to be brutally honest."
Real Estate Analyst Arthur Sterbcow says we'd better get used to inflation.
"Until the administration decides that fossil fuels need to be part of our daily lives again and take off some of the crippling restrictions, we're going to see inflation go on like this for quite a while I'm afraid."
Sterbcow says the housing market is getting hit hardest right now, with the government looking to raise interest rates on top of the biggest jump in inflation in 40-years.
Sterbcow says people looking to buy homes are caught between rising interest rates and inflation.
"The cost of groceries, the cost of gasoline, those are kind of outside the normal obligations that lenders used to think about. Those living expenses are certainly going to have a crippling effect on a lot of families."
Borrowers have to downsize what they are looking for in a new home.
Is there a silver lining to higher inflation and rising interest rates? Not really.
"As you know the inflation rates, not just the interest rate, have been huge, just off the chart. It was extremely expensive and crippling to the housing market."
