New money + Easy Credit = Higher Prices. It's simple enough, and the inflationary price rise doesn't have to be general. It can be concentrated for various reasons in a narrow field, like real estate, basically because of how the new money finds its way into the economy. If for some reason the new money and credit ended up chasing cars, car prices would start inflating, jack ass financial advisors would start referring to Volvos and Hondas as sound investments, etc, until the contraction at which point the artifically created demand dries up and the bubble pops.
IMO this is the best article on it: Toward a General Theory of Error Cycles by Guido Hulsmann
The atoms tell the atoms so, for I never was or will but atoms forevermore be.
Yours sincerely,
Physiocrat