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Home prices are now falling, piling on the Fed pivot from near and dear to the FOMC (models).

Eurodollar University

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Home Prices and Consumer Spending

The Federal Reserve has always paid very close attention to housing for relatively obvious reasons. Research and scholarship suggests that when home prices appreciate consumers feel better about their financial situation, they're more likely to spend. Ben Bernanke was actually right about some of the things that he said in July 2005. But thinking that home prices could never fall in a nationwide basis, that was his big error.

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