Almost every day for the last several months, people have been subjected to a steady trickle of bad news about the state of America’s real estate market. Unless you’ve been living under a rock, it’s impossible to avoid talk of the U.S. Federal reserve’s almost yearlong spree of raising interest rates to combat inflation.
Although inflation remains stubbornly high, rate increases have been a drag on the housing market, making people ask, “Has the Fed killed the housing market?” When you look at some of the hard data regarding home sales and mortgage lending, it’s hard not to argue that the Fed has certainly inflicted a deep wound. But has it really killed it?
