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IPFS News Link • Housing

Home Prices Soar At Over 5 Times The Fed's Inflation Target In All US Cities

•, by Tyler Durden

Well, here's an idea: maybe all the central-planning megabrains at the Marriner Eccles building and 33 Liberty Street can take a break from whatever circle jerk they are engaged in right now, and look at the latest Case Shiller numbers which showed not only that home prices surged at the fastest pace in seven years, rising at a double-digit pace for the first time since 2014...

... but that for the first time since the financial crisis, the annual price increase in every major US MSA (according to Case Shiller there are 20 of them) rose by at least 7.7% Y/Y (in the case of Las Vegas) and as much as 14.4% in Phoenix, meaning that the average home prices across all of the US is now rising at over 5 times the Fed's stated inflation target, and even the cheapest US MSA is rising at nearly 4 times the Fed's inflation goal.