I understand the sentiment and there's certainly a logical and valid case for it. But I disagree with it and here's why:
1) The secular trend in falling interest rates and "low" interest rates will continue longer term. Raising rates rapidly has been disruptive but it also gives some breathing room and the ability to slowly lower rates again, which will be needed to stimulate demand again. Lower interest rates obviously impact asset prices as borrowing becomes cheaper so you can borrow more.
2) 40-year fixed rate mortgages will be a think soon. This will increase many asset prices and allow people to continue to participate in buying real estate and generating wealth over time. This is a massive priority to the government because home owners are one of the most valuable things a government can have as they generate property taxes and give people skin in the game which means continued support of the regime. This impacts real estate assets because the monthly payment is lower which means you can pay more for things using cheaper money.
3) The rapid inflation we saw had nothing to do with low interest rates, at least not on their own. It was 100% because of the pandemic and how we reacted to it. Lots of liquid money was pumped into the system and this is the important part - it was liquid. Also, our entire supply line and logistics structure was optimized for a certain existence and the pandemic disrupted all of that. Suddenly money was being spent on different things and it has created all sort of supply and demand problems. This is beginning to smooth out and by 2025 I expect the effects of the pandemic on inflation will be gone. This means we can resume the secular trend of generally lowering interest rates long term.
