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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ChanceIs who wrote (71567)2/7/2007 1:23:09 PM
From: Smiling BobRead Replies (1) of 306849
 
And now the Fed is working to cushion the RE bust with market liquidity. Arguing the upside is justified and normal just doesn't cut if. The market is no longer supply/demand based.

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Whether such a world exists is another question. It's the stated policy of the Fed not to prevent bubbles from inflating, but offset the effects of the bust. That removes the discipline from the system. Indeed, contends Morgan Stanley chief economist Stephen Roach, the Fed is a "serial bubble blower." It inflated the housing bubble by driving interest rates down to 1% to cushion the blow of the Nasdaq tech bust.
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