Reply to Why do expert say: Buckle in for a brutal free-fall in home prices

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]BULLARD:FIRST 250 BPS OF TIGHTENING WAS JUST GETTING TO NEUTRAL
BULLARD: GOAL IS TO HAVE 2023 AS YEAR FOR US DISINFLATION
BULLARD: SITUATION CALLS FOR MUCH HIGHER INTEREST RATES THAT WHAT WE'VE BEEN USED TO[/quote][/quote]

Bullard is the most hawkish of the Fed and does not speak for the Fed as a whole. That said, we've already seen housing prices moderate. I just don't think we'll see much a decline beyond this around here, sadly, as that would be helpful. If folks are waiting to buy until housing prices come down (as opposed to just growing more slowly), I worry that they are going to be eventually priced out.[/quote]
Well, today was 3 Feds speaking. And all three...

[quote]0950ET *MESTER SAYS SHE DOESN'T THINK FED NEAR A PAUSE IN TIGHTENING, NEED TO SEE SEVERAL MORE GOOD INFLATION READINGS

1200ET *WILLIAMS SAYS FED STILL HAS MORE WORK TO DO ON INFLATION, FURTHER TIGHTENING SHOULD HELP REDUCE INFLATION

1200ET *BULLARD: RISK THAT FED WILL HAVE TO GO HIGHER ON RATES IN 2023, MARKETS UNDERPRICING RISK FOMC MAY BE MORE AGGRESSIVE, FED HAS `A WAYS TO GO TO GET TO' RESTRICTIVE RATES, FIRST 250 BPS OF TIGHTENING WAS JUST GETTING TO NEUTRAL, TIME TO LET QT PROGRAM RUN FOR NOW; SO FAR, SO GOOD[/quote][/quote]

+1 This is what the Fed Board Governors have been saying for a while now. Plus other indicators pointing to bad economic times. I don't understand how some people can believe anything other than rates will continue to rise and home values will decline. [/quote]

I don't think we are going to get the recession you are hoping for, but we shall see. The Fed doesn't want a recession. They want a soft landing, and so far, they are on the way to accomplishing that.[/quote]

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