Posted on 05/25/2022 9:01:42 AM PDT by Browns Ultra Fan
All I can say is “Wow.” Tobias Peter and Ed Pinto of the American Enterprise Institute (AEI) released their April housing report and it was a doozy. The AEI’s home price appreciation index came in at a blood curdling 17.3% YoY.
The reason why home prices are still raging at 17.3% YoY? The Fed’s monetary stimulypto is STILL in place! The Fed’s balance sheet (green line) is still staggering, and The Fed Funds target rate (white line) is a measly 1%.
Atlanta Fed President Raphael Bostic is talking about a pause in Fed tightening.
Fed Chair Jerome Powell is really “slowhand,” not Eric Clapton. Bostic is now a member of The Fed’s “Slowhand” strategy.
(Excerpt) Read more at confoundedinterest.net ...
Give it a few months. The world we are living in today is not the world we will be living in come this November.
Or September for that matter.
Inflation, that is....
Lagging indicator with the 45-60 day backlog in closings in the hot markets. This indicated in Feb-March negotiated sale prices remained high. My bet is per zipcode, there were groups up 25% and flat year over year. Sales in May get closed in July....that number will be epic bad.
Sel, for a while it seemed like about 10mins after the For Sale sign went into the ground, it was being pulled up 20 minutes later, due to multiple offers.
I’m starting to see the signs stay in the ground a lot longer now.
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