Stimulating the housing market is psychotic

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Stimulating the housing market is psychotic

Thank the wealth effect from the stock market and the cheapest borrowing rates in history. Free money is combining with the constrained supply situation from the economy’s reopening to produce huge disruptions and distortions. Here’s Peter Boockvar:The economic data this week shifts more so to housing with the NAHB builder survey today, housing starts tomorrow, the weekly mortgage apps Wednesday and existing home sales on Friday. If there is one topic they ALL seem to be avoiding answering with any specificity it is housing. I mean they are literally pouring fuel on the hot housing market and seemingly have no qualms about it.

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