HousingWire reposted this
I don't put pen to paper often, but when I do its usually because I'm overly excited or annoyed about something. This morning was a little bit of both. Yesterday, Rep. Thomas Massie (KY) fired off this tweet: “It’s absurd that one man sets interest rates for a ‘free’ country. End the Fed.” Well, we know that isn't true. Yet, 4.2mm people have interacted with the tweet – many of which are likely his constituents who take his word for gospel. And today, after Massie's contributions to the internet many people are led further down the wrong path of financial literacy. Mischaracterizing rate policy doesn’t just confuse consumers; it undermines confidence in the market and distracts from real economic issues. So let's set the record straight. Mortgage and real estate professionals, economists and journalists all have a role in this crusade. The path to affordability (AND A BIGGER, HEALTHIER HOUSING MARKET) starts with understanding, and understanding begins with fact-based knowledge sharing. The housing market is complex enough without adding manufactured confusion to the mix. Let’s focus on what actually moves rates, not what gets retweets. https://xmrrwallet.com/cmx.plnkd.in/g5YWV9DG