Making homes affordable is NOT one of the mottos for The Federal Reserve. But making homes outrageously unaffordable for the masses should be their motto.
The February Case-Shiller home price indices are out for February and the national home price index rose to 19.80% YoY.
Instead of the limbo rock, The Fed is apparently trying to see “How HIGH can we go?”
Once again, Phoenix is the fastest growing city in term of home prices at a sizzling 32.86% YoY. The slowest? Washington DC at 11.94% YoY. That’s right! 12 of the top 20 metro areas had price growth of over 20% in February!