Historically hyper inflation happens when you have massive amounts of currency printing, a young population, a failing industrial economy, and people losing faith in the currency. Europe and Japan have printed more currency than the United States, however their populations are aging extensively and it's difficult for them to get any inflation at all; their trends are deflationary.
The United States can get away with a lot more currency printing because the dollar is the world's reserve currency. As the world destabilizes, capital has been fleeing way from potential trouble zones into North American and Southeast Asia. A lot of money has been fleeing out of China and has fueled real-estate booms in safer countries; Germany and Japan have been setting up auto manufacturing plants close to their consumer, the USA. The increase in the Y part of the equation has mitigated inflation to an extent.
There is truth to both statements. MV=PY
The mind is a powerful tool. Sure there are winners and losers, but I don't believe that people are fundamentally born as a winner or loser; some are dealt better hands than others.
This is a result of internal migration in the United States and Florida being a destination for retiring baby boomers. Housing in Florida is either not overpriced, or not nearly as overpriced as in New York City or in the state of California. There is evidence of a housing bubble again here in the United States, but the increased demand in places like Florida and Texas has taken the air out of the bubble in these places and has pulled the rug out from underneath in states like California. In the states of New York and Illinois, there has been a net migration out, and in California there is a rough net replacement of poorer immigrant populations.
This view is completely incorrect. Currency supply has an effect on money velocity; the increase in the amount of currency lowers money velocity, and if that money velocity picks back up due to something like the lockdowns ending, then that currency creation is now especially bidding up the demand of the economy, like what
@SargeMaximus said.