Covid, The Fed, Biden And The Impossibility Of Home Ownership In A Post
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Covid, The Fed, Biden And The Impossibility Of Home Ownership In A Post
Fed Chair Jerome Powell’s favorite song: “No sugar tonight” for the mortgage market. The Fed provided plenty of sugar during the Covid crisis of 2020. Mortgage rates grew under Biden from under 3% to nearly 8%, helping to choke off housing demand. The good news? Median home price growth YoY has been negative since 2023 whilr average hourly earnings YoY has been positive and steady. Please Jerome, lower rates!! We are in a ring of fire with high …
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