Yes, BB will keep cutting to keep the Deflation (Credit Crunch) from getting out of control. Ultimately, he cannot stop the net contraction of money supply though.
Don’t buy now, you will get your ass handed to you if you do. Watch where long term rates are going and the bond market. They don’t give a shit about how much BB cuts the FFR. They have to account for risk and return of prinicipal and will price accordingly.
Anybody who buys a house now is quite simply a FOOL and will saddled with a rapidly depreciating and illiquid asset and locked into a high debt to income ratio in a deflationary environment. Not a good situation.
