Fed To Home-buyers: This 19% Rise Will Only Hurt A (Transitory) Minute!

According to the Case-Shiller indices, home prices in America’s 20 largest cities have exploded at 19.08% YoY in June up from 17.14% in May, beating expectations of 18.6%, and the highest pace on record even surpassing the housing bubble days of 2005-2006.