Fed official doesn't think housing market is headed for a crash: 'I am trying to buy a house here in Washington and the market is crazy'

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Federal Reserve Governor Christopher Waller has no doubt about how competitive today’s housing market is: “Trust me, I know it is red hot because I am trying to buy a house here in Washington and the market is crazy.”

Federal Reserve Governor Christopher Waller has no doubt about how competitive today’s housing market is.

His reasoning has to do with the forces that are contributing to the run-up in housing costs. “My short answer is that unlike the housing bubble and crash of mid 2000s, the recent increase seems to be sustained by the substantive supply and demand issues,” he said, and “not by excessive leverage, looser underwriting standards or financial speculation.”

“‘Unlike the housing bubble and crash of mid 2000s, the recent increase seems to be sustained by the substantive supply and demand issues.’” Though Waller may not be concerned about the potential for a burst housing bubble, he did signal that the cost of housing is becoming a bigger concern for monetary policy.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

True!!! Housing Market is the best investment.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Buying A House Vs Investing In The Stock MarketDebating buying a house vs. investing in the stock market? While both can be smart money moves and both come with risk, here’s why the latter is the better decision. A roof with solid foundations should steer you in the right direction.
Source: Forbes - 🏆 394. / 53 Read more »

How to get your foot in the door of Canada's crazy housing marketOn this week's episode of DowntoBusiness, we hear from first-time homebuyers on their trials and tribulations in the housing market — via financialpost podcast housingmarket homebuyers
Source: TheStarPhoenix - 🏆 253. / 63 Read more »

More Black, Latino Californians priced out of housing market, report showsOnly 26% of California households earned the minimum annual income of $144,400 needed to afford the monthly payments of a home priced at $786,750.
Source: OakTribNews - 🏆 597. / 51 Read more »

Accessory dwellings get another look in tight housing marketAmid a persistent housing crunch in many parts of the country, some people are finding a solution in Accessory Dwelling Units, or ADUs, also know as granny flats, in-law units or backyard bungalows…
Source: ladailynews - 🏆 332. / 59 Read more »