So let's see if we can connect the dots....The Fed hikes the fed funds rate. The bond market tanks. Mortgage rates triple. Housing prices collapse. Mission accomplished, Goons. Talk about demand destruction!
Today's datapoint was the latest Case-Shiller home price index...and it was a doozy! Again, with 30-year mortgage rates going from under 3% to nearly 8% in just over a year, how was this not expected?