The Federal Reserve's flawed decision-making and policy for 2023 have been identified as the main cause for the bursting of the real estate bubble. The Fed's decision to increase interest rates rapidly has paralyzed the housing market and caused buyers to hold off on purchasing homes in the hopes of lower prices. This, in turn, has led to a decrease in demand for housing, causing prices to fall. The housing market has been overly sensitive to the Federal Reserve's actions with interest rates, leading to a situation where the market is heavily impacted by changes in interest rates, both high and low. The Fed's mismanagement of money and policy decisions have had a significant impact on the real estate market, leading to a burst in the real estate bubble. 

The impact of the Federal Reserve's flawed decision-making has not only affected the United States but also has had an impact on European assets and real estate markets. Across advanced economies, investor fears about losses on interest rate-sensitive assets have led to widespread sell-offs, particularly in banks that trade at. The Fed's decision to increase interest rates has led to a decrease in demand for housing, causing prices to fall. This has had a ripple effect on the real estate market, causing the market to slow down and leading to a decrease in overall economic activity. 

The long-term effects of the Federal Reserve's mismanagement of money and policy decisions are expected to have a significant impact on developing economies. The Fed's decision to increase interest rates has led to a decrease in demand for housing, causing prices to fall. This has led to a decrease in overall economic activity, which is expected to have a lasting impact on developing economies. As a result, these economies are likely to experience a prolonged period of economic hardship. The Fed's mismanagement of money and policy decisions have had a significant impact on the global economy, and it is important for policymakers to take steps to prevent similar situations from occurring in the future.