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IPFS News Link • Housing
US Home Prices Rose For 15th Straight Month In May, Despite Soaring Rates
• https://www.zerohedge.com, by Tyler DurdenGiven the smoothing and heavy lag in the Case-Shiller data, it's hard to find a causal relationship between prices and mortgage rates, but with rates remaining above 7%, it seems hard to believe prices can continue their advance...
...but home prices are still tightly correlated with Fed Reserves which have slowed down...
...and a peak in the rate of price growth appears clear across all metros...
How is Powell going to cut rates when home prices are still rising near 7% per year?