This is just absurd. You're looking at just one part of the economy and whining about 25 basis points? It's just... annoying. Get out of the kitchen if you can't handle a match stick. The last time the housing market was this hot, the federal funds rate was 5.25% or 10x what it currently costs for banks to borrow.

Rents from L.A. San Francisco, Denver, Chicago, New York, are climbing at double digit rates year over year. The overwhelming majority aren't getting the kinds of salaries and wage increases to afford such increases.

The Fed had only been saying rates need to go up for 2 years before they actually did it, but did the market price this in? Not entirely, a good chunk of the market was in denial about the inevitable.