Posted on 06/24/2022 7:41:26 AM PDT by Browns Ultra Fan
The kids running Washington DC are not as sharp as pistols (which they want to take away) when they do the DC stomp.
Thanks to massive Fed monetary stimulus still stalking the housing market, US new home sales rose +10.7% MoM (from April to May), but were down -5.9% YoY (from May 2021 to May 2022) as mortgage rates rose.
Median price of new home sales rose 42% since May 2021, thanks to Fed stimulypto. And Federal government stimulus spending.
Yes, like the predators from the movies, The Fed’s balance sheet is still stalking markets.
Fed Chair Jerome Powell.
(Excerpt) Read more at confoundedinterest.net ...
The prices are still spiking because crazy people are switching en masse to adjustable rate mortgages and panic-buying homes in a FOMO frenzy. They’d better hope Powell can stop inflation, or those ARMs will EXPLODE.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.