Can easily create a leverage cascade
They haven’t printed in almost four years
I can only imagine what they would have to do to save everyone from being rekt
Discussion
who's getting wrecked in this scenario? Even the people who own the houses are by-in-large so way above water on their equity.
In my view, the problem is with the municipalities. Many counties are leveraged to the hilt on muni-bonds that were financed on the promise of increasing property tax. These counties are about to get destroyed. Too bad. They should default, but the Federal govt won't allow it. It's their chance to bail them out and further tighten the controls across the empire.