PS
You really have to cool the rhetoric. Even if know 50-80% drop were going to happen, NO ONE would believe you! So stop the wild exaggerations because they will just turn off most people because it is too extreme.
The NAR Survey is a not too subtle threat to Fed that Congress will be bullied to lean on Fed to CUT rates, thats right cut rates, not just leave them alone. As PS as stated the PCE is lower than CPI because it has a lower weight on housing. Most of the economists on WSJ panel excuse the CPI figures by flippantly exclaiming that rents are causing most of the increase and that rents don’t matter since housing prices are coming down!! Look for these SLIMEBALLS to lobby replacing the rent with NAR home prices in the CPI. That way, CPI will be go down and we can get a rate cut. Feds will be happy since it means less money on COLA for SS,etc., NAR will be happy that housing stops dropping hard and ANALysts will be happy that stocks will stop their nosedive. As a homeowner and stockholder, I would be HAPPY to see ZERO percent rate like in Japan!! Then we could see Dow 32K,etc. [we can dream]
