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The Housing Market Looks Like a Bubble. It’s Time for the Fed to Worry.

·4 min read
The Housing Market Looks Like a Bubble. It’s Time for the Fed to Worry.

When the Federal Open Market Committee begins its two-day meeting on Tuesday, it ought to consider whether its policies aimed to bolster housing may be having negative side effects. With the market for new and existing homes red hot, the rationale for subsidizing the mortgage market has largely passed. Indeed, the Fed’s policies may be hurting home affordability as much as they’re helping.