So, my colleagues and I on the Board of Governors and the FOMC share your interest in what is happening and will happen in real estate markets. As we all know, a singular feature of the U.S. expansion since the COVID-19 recession has been the red-hot housing market.
Trust me, I know it is red hot because I am trying to buy a house here in Washington and the market is crazy. Both house prices  I am grateful to Raven Molloy for assistance in preparing these remarks. These remarks represent my own views, which do not necessarily represent those of the Federal Reserve Board or the Federal Open Market Committee.