US mortgage lending is now so strict that only “perfect credit” gets approved, and existing home sales have directly hit a 31-year low.
On the surface it’s a real estate story, but in reality it’s ordinary people’s credit pipeline being choked off. If money can’t flow into the housing market, don’t expect the consumer end to take over. In this environment, the Federal Reserve can’t afford to stay tight—BTC and others are waiting for a liquidity turning point.
$BTC #美联储 #macro
On the surface it’s a real estate story, but in reality it’s ordinary people’s credit pipeline being choked off. If money can’t flow into the housing market, don’t expect the consumer end to take over. In this environment, the Federal Reserve can’t afford to stay tight—BTC and others are waiting for a liquidity turning point.
$BTC #美联储 #macro