On the other side, potential house buyers can now bide their time – no longer worrying about being priced out of the market if they wait a few more months or bid a little less aggressively.
Canova, Fabio, and Gambetti, Luca (2009), “Structural Changes in the US Economy: Is There a Role for Monetary Policy?”, Journal of Economic Dynamics and Control, forthcoming. Christiano, Lawrence J., Eichenbaum, Martin and Evans, Charles (2000), “Monetary policy shocks: What have we learned and to what end?”, Taylor, John, and Woodford, Michael, editors, Handbook of Macroeconomics, North Holland.