I call this The Federal Reserve’s Missouri Boat Ride.
Meaning that The Fed has kept monetary stimulus in play for too long since late 2008 helping to lower mortgage rates from over 6% in November 2008 to 2.98% in November 2021. Then came “The Missouri Boat Ride” as The Fed signaled monetary tightening, leading to mortgage rates skyrocketing to their highest level since 2010.
The result of rising home prices AND mortgage rates? Housing acquisition prices (home prices * 30 year mortgage rates) have skyrocketed.
Between rising home prices and rising mortgage rates, we see that number of prices reductions increasing at nearly 70% YoY (chart courtesy of WolfStreet.com).
Of course, Congress and the media will never ask Janet Yellen (former Fed Chair [2013-2018] and current Treasury Secretary) WHY she kept massive monetary stimulus around for so long. Or why current Fed chair Powell did the same with Covid-related monetary stimulus.
- Dr. Geert Vanden Bossche forecasts total chaos within 2 months.
- Breyer retirement letter has no President name on it. – Opinions coming Thursday
- Chicago shoplifter gets folded up like a pretzel by jujitsu instructor
- Why Are They Still Pushing the Global Warming Hoax When We Have Real Problems to Take Care Of?
- Rationing Has Already Started In Europe As The Entire Globe Plunges Into A Horrific Economic Nightmare
- Armstrong: Prepare for WWIII: The West NEEDS war because the entire financial system is collapsing
- What’s Happening to America’s Wealthiest Families Proves the Dollar Is Failing
- Things are going down in the Netherlands.
- 29-year-old trans woman beats 13-year-old girl to 1st place in NYC girl’s skateboarding contest
- PEDOPHILES ARE OFFICIALLY A PROTECTED CLASS IN AMERICA NOW
Views: 29