The price of housing is ridiculously overblown, fueled by a decade of stupid low interest rates by the federal reserve in an attempt to keep financial markets stable at a hugely dangerous cost..
The housing market should have been allowed to reset in the collapse 2008/9.
Instead the fed changed accounting rules and propped up failed banks..
We're reaping the reward.. it's close to the end now, 2024 was the estimate for how long they could push the lie before the math caught up with them.
Seems like we're right on schedule..
It's probably too late at this point and raising rates isn't quite the answer it would have been in 08..
In 2008 the fed balance sheet stood at a historic 845 billion dollars.. today its 9 TRILLION.. that's a problem..
