I mean, rates were supposed to go down so that Bessent could refinance the debt, right? And Elon was supposed to find $1-2 trillion but found $160 billion, which might actually be bullshit and 1/10 of that.

Is this “winning”?

Well free markets are like that. Supply/Demand.. I'd like to think it's a limited supply of money (no FED printing it up) and increasing demand. Low supply big demand makes for prices rising until equilibrium of some sort is achieved.. Wait till the FED is no longer around. Free markets work everywhere.

This will drive housing prices down over time as people won't be able to borrow on such high leverage