Why The Fed Fears Honest Interest Rates: 80 Bps Of Normalization Has Aleady Caused A Drastic Rollover In Home Sales

The change in trend clearly predated the change in season, but aligns exactly with the inflection in mortgage finance and credit. This should be much more alarming to mainstream observers, as I have noted repeatedly that a relatively minor increase in interest rates should not have provoked something so dazzling in its contrast...
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