Fed Governor Bowman speaking
- Likely to see higher inflation from housing for a while.
- Fundamentals driving also prices, but house prices do decline from time to time
- Continued outsized house price increases could also be problematic.
- If transitions out of forbearance handled smoothly, cautiously optimistic no material effect on larger economy.
- Aware is of the risks of transition from forbearance, monitoring closely.
- Appropriate that non-bank mortgage companies get stronger oversight.
- Concerned about differences in oversight between banks and nine banks in mortgage market.
