The Fed said it will begin reducing its $120 billion in monthly bond purchases by $15 billion a month over the course of the coming weeks. The Fed said it will slow its $80 billion in Treasury purchases by $10B a month and its $40B in mortgage-backed securities by $5B a month for the next 2 months.

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Housing crash soon.

Since Zillow and institutional investors hold most of the inventory, they will probably keep prices artificially high and try to ride it out. I hope not. I’m looking to cash purchase a condo or a townhouse out of state and I’d like a deal.

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A lot of people are suggesting this. I'm also unsure this just means Zillow is incompetent. Blackrock is probably about to scoop all of those properties though. I guess we're doing a transition from government having tacit ownership of all properties to the proles being renters solely and corporations being the new ownership facade.

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I had similar thoughts. Private ownership will be strongly discouraged through a sharp tax raise and you'll be incentivized to house strangers in your home to get a tax credit. Backdoor Communism, Comrade.

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