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My wife and I just started saving to buy a house, and I was resigned to the fact that we would have to buy into a super-inflated market. From my perspective, hearing this from the Fed is great news, but I realize that my own personal bias probably clouds my view quite a bit.

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Realistically, the only real power they have to decrease house prices is to massively increase interest rates.

Unless you've saved enough to buy a house outright, you'll probably end up paying in interest what you would have paid in principle. Whether it ends up being better or worse for the average buyer remains to be seen.

> you'll probably end up paying in interest what you would have paid in principle

Is that a better outcome from a mortgage interest deduction perspective?

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