Fed policymakers need to thread the needle as they try to deflate the housing bubble without bursting it, the Dallas Fed said in a research paper this week.
Independent Advisor Alliance CIO Chris Zaccarelli analyzes the market as it awaits September inflation data.
Fed policymakers need to strike a delicate balance as they try to deflate the housing bubble without bursting it, Dallas Fed economist Enrique Martínez-García wrote in the analysis published this week. During the COVID-19 pandemic, home prices soared at a pace not seen since the 1970s with mortgage rates near a record low, Martinez-Garcia said. Homebuyers – flush with stimulus cash and eager for more space during the pandemic – flocked to the suburbs; demand was so strong, and inventory so low, at the height of the market, that some buyers waived home inspections and appraisals, or paid hundreds of thousands over asking price.
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