You would think the Fed wanted housing to become as overpriced as possible, having supported the market with $2.575 trillion in purchases of mortgaged back securities on its balance sheet to keep those securities flowing through with very low yields. That translated downward, of course, to very low mortgage rates, which the Fed sustained throughout the post- Covid years when housing prices were skyrocketing at their fastest rate to toward their highest prices ever, making housing unaffordable for just about everyone. You would think they wanted to create and pop a housing bubble, having kept that acceleration up all the way to the second they pulled the plug on the market with interest hikes. Why else would you accelerate and accelerate without need and then slam on the brakes and aim for the curb unless you wanted to send someones head through the windshield?
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