“Sellers are holding out for prices that are no longer realistic."

"Sellers are holding out for prices that are no longer realistic. MSCI’s bid-ask spread reflects the difference between what U.S. property owners are asking for and what buyers are willing to pay…the gap for multifamily apartments was 11%, the widest it’s been since early 2012.”  --

Danielle DiMartino Booth

Translation: Sellers are delusional and holding out for 2021 prices that are never coming back. https://t.co/PMJkEzKClU

— QE Infinity (@StealthQE4) August 31, 2023

TOM LUONGO: it takes up to 3 months for some of these treasury sales and mortgage-backed security sales to clear, settle.

SOUND ON 🔊 Tom Luongo @TFL1728 talks about how far the Fed will hike, & how gold & silver respond going forward... #FederalReserve pic.twitter.com/k5SzQzOvxP

— Chris Marcus (@ArcadiaEconomic) September 21, 2022

When the Fed Chairman comes out less than 60 days before the midterm election and say, "Congress needs to get its fiscal house in order."  The Fed's not suppose to ever discuss fiscal policy.  And yet the Fed Chairman came out when he was speaking at CATO--interesting that he did this at a nominally libertarian think tank to say that Congress needs to get their fiscal house in order . . . right before the midterm election, right before the most pivotal election possibly in the country's history.  Big deal . . . .  

What the Fed is doing now is drying up liquidity.  The Fed is, in fact, not buying any more mortgage-backed securities, and that they're selling more.  Danielle DiMartino Booth reminded everybody that it takes up to 3 months for some of these treasury sales and mortgage-backed security sales to clear, settle.  They can sell them in June, but they take 3 months to clear.  So they're not going to start showing up on the Fed's balance sheet until they've cleared.  So they could have been selling treasuries or rolling them off the balance sheet or whatever three months ago, meanwhile we have Peter Schiff going, "The Fed's not shrinking its balance sheet."  Come on!  If I know this, then you know this.