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Analyst Says QE and Housing Policy Boosting Inequality

Anyone surprised by the housing recovery is simply blind to the context that the Federal Reserve has administered a bazooka full of aid and comfort over the past few years. They bought up enough mortgage bonds to force interest rates to near-record lows, boosting the fortunes of asset holders. And in so doing they made housing an attractive investment product, bringing lots of Wall Street cash into the REO-to-rental play, at least for a short while.

via David Dayen: BofA/Merrill Lynch Analyst Says QE and Housing Policy Boosting Inequality « naked capitalism.

 

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