JPOW has stated the following:
FED policies have contributed towards the pricing out of first time home buyers.
Real Estate affordability is not the responsibility of the Feds.
Lower rates have not caused any change to housing supply (yet when people refinance they cannot sell until the refi mathematically is in their favor. Directly causing them not to sell).
Price increases are geographical due to people wanting to be in suburban SFH (complete objective lie. Property values have exploded in 90% of major cities).
Basically JPOW has shown he is completely on the landowner supply side and could not care less about the FTHB demand side. As a FTHB my morale has been shot. Landowners should be cheering