Critics slam the Fed as home prices rise at a historic rate – News 24-7 Live News 24-7 Live
Critics slam the Fed as home prices rise at a historic rate

Critics slam the Fed as home prices rise at a historic rate

  • Home prices nationally in January were up 11.2% year over year, according to the latest S&P CoreLogic Case-Shiller Index. That is the largest annual gain in nearly 15 years.
  • As of last week the Federal Reserve held $2.2 trillion of agency mortgage-backed securities.
  • “They’ve continued on autopilot. I don’t think there’s been any discussion within the Fed,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.

Home price gains are accelerating at an alarming pace, fueled by Covid pandemic-related inflation, which some claim is not getting enough attention from the Federal Reserve.

Home prices nationally in January rose 11.2% year over year, according to the latest S&P CoreLogic Case-Shiller Index. That is the largest annual gain in nearly 15 years.

As a comparison, annual price gains were 10.4% in December, 9.5% in November, 8.4% in October, 7% in September, 5.8% in August and 4.8% last July. In January 2020, the annual gain was just 3.9%, and the monthly moves were in small fractions, not whole percentage points.

News Source:- Cnbc

Leave a Reply

Your email address will not be published. Required fields are marked *

Report News
Google