17 Mar The Fed cut interest rates to zero yesterday What does this mean for Real Estate?
What does the monetary policy change by the Fed implemented yesterday mean for Real Estate?
According to Chief Economist Lawrence Yun of the National Association of Realtors ,”The monetary policy change is the same one applied a decade ago during the Great Recession, THe lowest interest rates combined with quantitive easing. This is an all out measure to prevent a recession and the fear that is blanketing the country, It is the right policy since the policy since the policy can essily be reversed should a vaccine be discovered or the virus goes away>”
The difference between the last recession and now is during the last recession real estate was on shaky ground with loose lending and an over supply whereas today there is no subprime lending and low inventory. It will better today