Fed’s Rosengren on Housing Market: “The U.S. Cannot Afford Boom and Bust Cycle”
Eric Rosengren, the president of the Boston Fed, warned that the U.S. “cannot afford a boom and bust cycle” in the housing market as it would jeopardize financial stability. According to National Association of Realtors data, the average price for sales of existing homes grew 23.6% year-on-year in May, reaching $350,000 for the first time. Q1 2021 hedge fund letters, conferences and more Less exuberance in the housing marketDuring an interview with the Financial Times, Rosengren asserted: “You don’t want too much exuberance in the housing market.” “I would just highlight that boom and bust cyc...