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Since roughly 2023—after benchmark interest rates began rising in 2022, slightly cooling capital markets—this is no longer the case. Buyers couldn’t afford high prices even before 2023, yet paid them nonetheless due to the presence of artificially low interest rates.

Peter says the Fed’s rationale for backing off is revealing — they claim to have overshot their targets, but the overshoot is massive when you look at inflation instead of the short-term numbers:

Jay Powell is not a genius. Indeed, he has been one of the worst economic central planners in the Fed’s history.

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Liberal media pundits are obsessed with pushing leftist ideology.

Disgusting leftists take aim at Christians’ direct connection to God.