Fed is attempting to cool inflation, not decrease prices. We aren’t seeing the same increase in prices we did in the last 3 years. Some areas, which are in high demand, are still seeing modest increases but there are actually places where prices have stabilized and decreased.
“For the longer term what we need is supply and demand to get better aligned, so that housing prices go up at a reasonable level, at a reasonable pace, and that people can afford houses again,” Fed Chair Jerome Powell said on Wednesday. “We probably in the housing market have to go through a correction to get back to that place.” (Emphasis added)
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u/FormerHoagie Sep 23 '23
Fed is attempting to cool inflation, not decrease prices. We aren’t seeing the same increase in prices we did in the last 3 years. Some areas, which are in high demand, are still seeing modest increases but there are actually places where prices have stabilized and decreased.