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Fed official: US cannot afford housing market ‘boom and bust’

https://www.ft.com/content/ff83ed04-3bb5-444a-9af0-1b466201ef67

Some parts of the article for the lazy:

“It’s very important for us to get back to our 2 per cent inflation target but the goal is for that to be sustainable,” Eric Rosengren, the president of the Boston Fed, told the Financial Times. “And for that to be sustainable, we can’t have a boom and bust cycle in something like real estate.

“I’m not predicting that we’ll necessarily have a bust. But I do think it’s worth paying close attention to what’s happening in the housing market,” he said.

“You don’t want too much exuberance in the housing market,” Rosengren said. “I would just highlight that boom and bust cycles in the real estate market have occurred in the United States multiple times, and around the world, and frequently as a source of financial stability concerns.”

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Commence discussion on our fav topic! As a reminder, no one knows where the hell market will go, but it’s fun to speculate.

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source https://www.reddit.com/r/RealEstate/comments/o9qiib/fed_official_us_cannot_afford_housing_market_boom/
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