“The plunge in housing has trimmed overall economic growth and is occurring as part of an effort by the Federal Reserve to raise interest rates as a way of slowing economic activity and keeping inflation under control.”
This really gets me. Oh yea, the it’s all the Fed’s fault that we’re having a slowdown, because they won’t lower the interest rates. Mean old Fed!
If the Fed is at fault in any way, it would be because they shoved rates WAY TOO LOW in the past.
Not to mention that predatory lending, exotic lending, and “sheeple” mentality are all major factors in the slowdown.
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