Fed Chair Powell's 'Housing Reset' Spreads to SFR, Multifamily, Land

In mid-June, Fed Chair Powell used a phrase when addressing reporters that caught a lot of attention at the time. He made clear that the central bank was carefully watching housing prices and residential investment, and then said this: “I’d say if you are a homebuyer, somebody or a young person looking to buy a home, you need a bit of a reset. We need to get back to a place where supply and demand are back together and where inflation is down low again, and mortgage rates are low again.”

He added that the Fed world work “in a way” so the housing market “settles in a new place and housing availability and credit availability are at appropriate levels.” Then he said thank you and left.