The Problem Is Accumulating Accumulation

By |2015-06-22T16:26:26-04:00June 22nd, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

The home market may literally be testing the notion that interest rate manipulation has the net effect of pulling forward demand. Existing home sales, as tabulated by the National Association of Realtors, surged in May to a new six-year high. That sounds like terrific news about a rebound in the real estate market after quite a rough period dating back [...]