It’s amazing to me that everyone criticized & demonized Greenspan so intensely for keeping rates so low for so long and playing such a big part in the housing bubble, yet Bernake is doing the exact same thing now. No way prices would be rising if 30 yr fixed rates were at a long term average of 6-8%. With a 3.5% rate right now, they are going to have to stay low for a long, long time for prices to keep rising and not fall. Or we would need incomes to start rising at a healthy clip to accompany a rate rise & house prices to not fall.
I mean freaking 3.5% 30 yr fixed. This is not even close to anything anyone has seen since the 19th century!
