Nothing is simple or easy in this world. Take pine nuts. Simple, easy, right? Nope. A staple of pesto, and some salads and desserts, those in the United States don’t come from the United States. They come from China, Russia, and Afghanistan! Our allies? Lenders handling volumes expected to drop more than 40 percent in 2022 isn’t easy. Our housing market isn’t simple. Plenty of attention-grabbing headlines have appeared, saying the U.S. housing market is in bad shape, even plummeting. Like this “U.S. Housing in Much Worse Shape Than Fed Admits.” Remember that millions of households have solid balance sheets, lots of equity, decent credit, and jobs, and there are plenty of millennials that want to own their own place. But the current housing market prompted one West Coast broker to write saying, “Nothing is easy anymore. The Federal Reserve will destroy housing. For some reason, the FOMC will not change the ancient method of containing inflation, namely raising interest rates. Since it takes six months for an increase, or decrease, to make its way through the economy, one would think the Federal Reserve Open Market Committee would wait and see the effect. I think that, as in the past, the Fed will create a recession. Again, the lower wage earners will be the first to be out of work. Renters, already hit hard by high rent and COVID, will be hit hard again. With some luck, housing will not be trashed, as the loans are reasonable, qualified loans made to borrowers who have the ability to repay.” (Available here, this week’s podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology and other services in the mortgage industry and in banking. Today’s has an interview with Michael Nouguier on cybersecurity considerations for mortgage companies, especially in a downturn.