I was teasing with a bit of fun in my set up--, but to answer you, yes, I watched a good bunch of the post-release commentary Bernanke gave and he stated that "real rates were too high".
It's worth pointing out again that though you and I have differing views, that is entirely acceptable in the realm of economics, as there is ample data for both of us to point to in support of our view. This is why economics is known as a "soft science".
I'm glad to hear Bernanke asserting my position though. I have been surprised that the Fed was seemingly willing to taper with what I view as the economy weak and potentially slipping into recession. I think, as I stated previously, that with the government borrowing needs slimmed down, that the Fed may well be deciding to taper due more to their concern about "becoming the market"/dominating the market as a huge buyer of treasury paper issuance rather than any significant and sustained lift in economic strength.
That said, if we tilt into recession in the next year we may see the next move by the Fed being to increase their QE buying program or come up with some other creative means to try to stimulate the economy--perhaps targeting mortgage rates to try to boost refinance and purchase activity. Just a thought...
By the way--this is great news for REIT's, as long as we don't tilt into recession. If we go into recession, they will take the good girls out with all the rest! But then, that is precisely when you would want to be a big buyer. I know I will.
I look at QE, and all stimulative monetary policy actions, as filling the pool to a certain water level--an effort to find the right amount of stimulus to attain a certain amount of economic growth with low inflation (full employment is another Fed mandate component here as well). Given the present excessive debt level in our country, and given the still after effects of the financial panic of 2008/2009, the Fed is needing to put in QE "water" to try to maintain an appropriate level in the pool. They will continue QE as long as it is needed because the negative consequences of not doing so are unacceptable to them. And it is worth noting that Japan's QE program is three times the size of ours when adjusted for the size of their economy. So to think the Fed cannot increase its QE size from the current baseline level is a mistake in my opinion. Until such time as the negative consequences from QE are painfully obvious (and your point is correct, there are misallocations and trouble-a-brewing, likely in future years)--but until we can see the whites of troubles eyes, the Fed will continue QE to maintain the water level of the pool. And that means forever if they deem it necessary and the negatives are not painfully at our door.
And we should also know if SUI provides free flotation devices such as: the standard blow up pool rafts and inflatable ducky arm floaters for all residents of at risk properties!
I'm sure SUI has flood insurance in these areas. If the damage was going to be material to the company they would have already disclosed it. With the overall number of communities owned, this will be of minor significance to SUI.