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Allison Schrager: The Fed’s Damage to the Housing Market May Last Years

The central bank created major distortions in a market where many Americans have most of their wealth. Why? With interest rates now hovering around 5%, existing-home sales are down more than 14% from last year. Some potential buyers are sitting on the sidelines until rates or prices or both decline, while sellers are hoping the market picks

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Posted: August 11, 2022 Thursday 06:00 AM