A much better question is, at least from my point of view, is 'How will I best prepare myself to adapt/take advantage of the Fed's actions?'. 

In addition to fighting dumb policy that does not work, we have to adapt our strategies...to the government supporting the lower and middle income levels as it's only going to continue/increase (with automation, the income gap, and the dependent generation).

All we can do is adapt and act decisively given new information right?  

My only gripe is the scorching heat during the summer, but you learn to adapt and stay indoors or do things early in the morning. 

Adapt to a lower yield environment, or dont. 

We all to adapt to the conditions and think outside the box for sure in times like these, but many times history repeats itself in the real estate cycle.

Original basis plus all capitalized betterments, adaptations, and restorations.

And I bet Howard Hanna, Marsh, Agresti, etc. are going to inflate asking price (Howard Hanna always has) but it simply means we'll need to adjust our game plan and adapt. 

Brokers adapted when Zillow came along 10+ years ago, and the good brokers will adapt with OD too.

I have adapted the idea of waiting on the deal.