#FederalReserve #housingmarket #Rosengren
Boston Fed President Eric Rosengren is sending a warning on the U.S. housing market. Yahoo Finance’s Brian Cheung shares the details.
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Then why are they pumping it up. My market is up 30% yoy and people are still freaking out. Pay checks aren’t up 30%. They are creating a mess. Let the market set the rates. Not the fools in the fed. Now let’s see if this reverses what the nuts will do to keep it up…
Moreover they are allowing hedge funds to buy up all the houses, further driving up price. But alas, the retail traders and everyday Americans always get blamed.
Agree, fools who buy in this frothy market, ignorant of the Fed’s unnecessary stimulus (i.e., buying $40B/month) during unprecedented demand will eventually get slaughtered like pigs. They claim that they ‘need to get in early’ before housing sky rockets or they need a home for their family…rubbish, no one needs to buy in these ridiculous conditions where you need to bid up asking by 10-15% to win a bid. They all deserve what’s coming to them!
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I’m just waiting for the market to crash so I can buy buy buy
Me too!!!!! Lol
It don’t have to crash per se but just go 10% less than pre-inflated price OR 10% less than 2020 assessed value , whichever is LESS. But some markets were over inflated since past 5+ years & those should correct to that old right level
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Then STOP BUYING MORTGAGE BACKED SECURITIES
“Okay, we’ll just buy REITs”
The forbearance is ending in August. Then we will have 2 million homes hitting the market. The market has been skewed because of Biden destroying the market.
Govenrment has said they will be stepping in to backpay missed mortgage payment, remainder of mortgage can be refinanced to 40 yr amortization to reduce payments.. or u can sell and cash out with all the equity gain furing covid inflation. A crash is literally impossible
They’ll keep putting it off.
What the hell does Biden have to do with this? Are you high?
@Philosophy of Religion Blog Biden actually nomited the person in charge of Fannie Mae and Freddie Mac. Not defending anyone, just stating that so you guys know.
It won’t end in August. They will extend it again due to kids returning to school, then after that another extension for the holidays.
Eviction notices moratorium ends this week.
Moved to end of next month now
Nope…they’ll keep moving it out so that there is literally no stability on planning your housing.
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crash coming
Crash coming tomorrow
So let me get this straight. People who are not working who haven’t been working during covid get the royal treatment. And everyone else who keeps the economy going can afford a house. This country is a joke.
I really hate this. I saved for over 2 years to have a good down payment which is only going to pay for the 15 to 20% price increase. This is just stupid.
@Juan Martinez same here, Total bs
@Juan Martinez wait. You will be all right
How is this the counties fault? Feel free to leave
Fed can’t afford two stop 🛑 buying back mortgage backed securities
FED is backed into a corner. Either crossroad will lead to hell’s fury.
Print into oblivion or crash the entire system, both sound pretty bad…
Market crashes, booms, busts, mass unemployment, moratoriums… I’m so glad the Fed is here to Monkey-wrench the economy, otherwise the market would be unstable.
The Fed’a creation was sold to the public on its ability to eliminate panics and keep the currency stable. We know how the stability thing has worked out and 1913 dollars have lost 97 percent of their value. The Fed is a private company out to enrich itself and its wealthy friends. Check out the free youtube documentary “The Money Masters”.
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It’s Home prices and Auto prices also
I am buying. Lenders are very cautious these days, it is not like 2007 lending. So default risk is low. Plus if any disaster sign, FED will be footing the bill again. Money is so cheap now and you will be a fool not borrowing. A tip: When calculate total cost of a house, use lifetime payment, not the selling price. You are all very welcome!
Dallas is up over 30% buy them all then
@Hydross : i am actually buying frisco assets. It will continue to go up in the next 10-20 years regardless of the interest rate.
Fact: the fed is buying billions of dollars per month of mortgage backed securities (40 billion minimum). Since COVID this means at least a half a trillion dollars. This is all meant to lower mortgage rates, provide banks with liquidity, and incentivize real estate investment and purchases.
Now… does any sane person think the fed will allow the housing market to collapse? Lmao. Give me a break. Housing is an asset that the fed will pump forever. Its risk free and government backed. Dont even qorry for a minute that housing will crash. If it ever corrects even 10% the fed will immediately step in to repump it up with whatever support is necessary
Leverage up and buy real estate folks. Jerome powell is basically winking at you and saying mortgage rates will be low for foreseeable future
Kind of funny that a fed prez. Is issuing warning signs when its the Fed that caused and is feuling the bubble. Reminds me of Bob Rubin warning about excessive debt while running the most over levetaged bank on the planet. Citi. With an Ivy leauge degree you can f_ck up anything and get away with it without consequences.
You can buy all MBS you want to keep prices high and avoid bank loses, but reality will bite at a point, would people get in debt for such amounts to buy dust? Look at the FL condos. Money that you transfer from here to there to patch a partner bank balance sheet causes other problems due to that money not going where it should, same apply to the distortions in the market associated with the FED actions
*Sacramento, CA Housing Prices Crater 22% As Appraisal Fraud Hobbles California*
A little late for that, like this old man for his pudding
Crash crash crash, I want to buy a home, I’m fucking 27
Why buy a house when you can rent one for half the monthly cost? Buy it later after prices crater for 70% less.
@Senior Housing Analyst that’s….. exactly what I suggested?
@GTL5427 crater
Crash is coming. Bubble start to burst. It’s a cycle .
True real estate is often a main cause of problems. But this doesn’t mean it always is. I think it’s much more accurate that real estate speculation with few rules is the main cause of problems. A bit too simple to just say “real estate”. Right now lending is pretty tight so people can afford payments, owners have equity, jobs feel secure, interest rates are low. These are all positive factors for home ownership so it follows prices would increase. Speculation and lending problems may cause problems somewhere down the road, but not today. If problems do start it will likely be from an unexpected place. One reason housing isn’t a bubble is because so many people think it’s a bubble. Bubbles can only happen when people think something will grow forever. I’m looking at you tulips.
FED saying the market is overvalued is rich. It’s as if an arsonist is standing in-front of a burning building and saying “yeah that’s not right, wasn’t me though”. Those clowns created this frankenstein economy by printing, buying up debt and keeping rates near zero or negative in real terms (with inflation). They basically weaponized the dollar so that everybody is FORCED into assets, otherwise you will be bleeding money. Result: an epic bubble in every asset class. Perhaps they need to read up on some hayek instead of kaynes.
FEB is responsible for the unattainable housing price now by artificially keeping the rate low.
What’s happening to Home Prices is not regional , it’s Nation Wide . And that is a clear signal that something is completely out of wack in the Market . But mostly likely there will not be a Crash like 2008 . Just a minor Price Correction .
AaaaZZ
Lots of talk, little information
*Laguna Hills, CA Housing Prices Crater 28% YOY As Southern California Submerges In A Cauldron Of Soaring Housing Inventory And Mortgage Defaults*
WELCOME to Toronto. House prices have exactly tripled in the last 15 years. Minimum one million to buy a detached home.
Wages ? The average household income in Toronto and area is about $90k before taxes..Do the math..
Stable coins are proof of inflation, and the Fed doesn’t like that.