'Upside down economically': Here's why the housing market probably won't get more affordable if the Fed cuts rates

'Upside down economically': Here's why the housing market probably won't get more affordable if the Fed cuts rates

ReutersThe Fed cutting rates is unlikely to give prospective homebuyers relief, Peter Boockvar says.The investment chief says Fed rate cuts are more likely to impact short-term rates in the economy.Rate cuts also don't change the fact that the market is in dire need of new supply, he said.Don't expect the Fed to rescue the housing market.Markets have their eye on the Fed's likely interest rate cut in September, but Peter Boockvar, the CIO of One…