REA having a bear market rally?

I think REA and all the growth stocks are having a bear market rally.

I have changed my opinion since I had a recent banking interaction where they informed me the 4 years fixed rate now is close to 5%. This was just under 2% even one year ago. I never expected it to change that much. We are still at the very early stages of a hiking cycle. That has to be negative. I am expecting the housing to slow more significantly and listing to decrease.

Although the US inflation is 8%, no one believes it is that low. It is much higher than that. Australian CPI is underestimating actual inflationary pressures. Fed and the RBA is so behind the curve. We have a much higher chance of a hard landing than what the FED is admitting to. They think by doing 9 odd hikes ( having 2 in front of the end year and close to 3 at the end of 2023) would not have any impact on growth. I beg to differ. There is every chance it does nothing to inflation and we would still be having close to 4% inflation end of 2023.

These macro do nothing for the long-term prospects of REA, but we have a high chance of seeing REA below these values in the year 2022. When the US market goes down ASX goes down as well. These are probably the worst times to be in any stock with high multiple even of the quality of REA.

I am not selling my stock but not a buyer at these levels. Just holding on to some "misery equities" which might be the best bet if there is a recession in 2023.

DYOR