It looks like I'm not the only one who has started worrying a bit more about tight monetary policy.
Expected 5 year inflation has dropped by nearly 0.5% since June - about 1/3 of that drop coming in the last few days. Inflation expectations are back down to the post-QE2 lows.
Meanwhile, the National Association of Realtors notes that existing home sales disappointed last month, due in part to a drop in all-cash and investment buyers.
Home prices continue to moderate. However, new home sales were strong in August. And household formation, which had dipped last year, appears to be starting to grow again.