Great points PD. I think a lot of people are purposely ignoring what general direction rates are going in relative to housing prices given the market conditions. Rates are more likely to go up and not down. The dollar drops and Ben has to defend it with a rate hike. Inflation symptoms manifest in consumer goods prices and Ben can’t justify lowering.
I didn’t even want to mention the Fraud Layer that exists in all of SoCal real estate value right now. The inevitable response will be that it’s exclusive to Temecula, Murrietta and IE. Oh no, it’s not my clueless permabull friends. Everytime you see that the asking price of house has been raised after a series of price drops, that is an invitation for Cash Back Fraud pure and simple.
