If you want to consider interest rates in the usual model where increases are meant to reduce demand and lower prices, the Fed either really screwed up or we're about to see a huge drop in the housing market.
Prices consistently went up over the last couple years of high rates. The recent fed funds rate drop didn't seem to help, and last I checked loan rates had stayed flat or actually gone up a bit.
If loans weren't hurt enough them the Fed stopped raising rates too early and dropped much too early. Otherwise it would seem that they dropped in anticipation of something coming and loan rates are staying high anticipating higher risk of the same issues ahead.
Prices consistently went up over the last couple years of high rates. The recent fed funds rate drop didn't seem to help, and last I checked loan rates had stayed flat or actually gone up a bit.
If loans weren't hurt enough them the Fed stopped raising rates too early and dropped much too early. Otherwise it would seem that they dropped in anticipation of something coming and loan rates are staying high anticipating higher risk of the same issues ahead.