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The Tea Party Economist reports:
The Federal Reserve system has prompted an enormous amount of money in order to purchase Fannie Mae and Freddie Mac bonds. This initially had the effect of lowering mortgage rates, but in recent months, this has reversed. Rates have gone back up. This is going to create trouble for the housing recovery. This is the famous operation twist.
There's more:
If you do not count the distressed sales, home sales are down 57% from 2005.
Just a reminder!
