Powell: Housing market faces 'significant challenges'

the housing market faces um some really significant challenges and uh I don't know that you know a 25 basis point decline in the federal funds rate is going to make much of a difference for people. Um you know housing supply is low. Many people have very very low low uh uh low rate mortgages from the pandemic period and they kept refinancing and caught the the really low.So it's may expensive to them to move and you know we're we're a ways away from that changing. Also we're just we haven't built enough hou ...