Meh. The NIMBY-ish "allow only token new construction" was (and is) far more important than the "free money" and financialization. There was also loads of money available if you wanted to build a generic consumer products factory in (say) China. Notice that generic consumer products suffered nothing remotely resembling the price increases which hit goods and services for which there were tight supply constraints (whether housing, or cars, or things dependent on those).