Federal Reserve Chairman Bernanke Talks About Real Estate Today

Posted By on February 10, 2012

Many parts of our economy now seem to be controlled (rigged) by the government.  If  housing would have been left alone, then things could have been cleaned up by now and a true bottom might have been reached, but instead this mess will drag on for years to come much like Japans nightmare!

Federal Reserve Chairman Ben S. Bernanke said the central bank’s efforts to spur economic growth are being blunted by impediments to mortgage lending.

  • BERNANKE: HOUSING MAY NO LONGER BE VIEWED AS SECURE INVESTMENT
  • BERNANKE SAYS HOUSING IMPEDING FED EFFORT TO SPUR U.S. ECONOMY
  • BERNANKE SAYS HOUSING SECTOR SUFFERS FROM `SERIOUS IMBALANCES’
  • BERNANKE SAYS HOUSING IMPEDING FED EFFORT TO SPUR U.S. ECONOMY
  • BERNANKE: TIGHT MORTGAGE CREDIT WON’T BE EASED QUICKLY, EASILY

“We have helped lower mortgage rates to the lowest point in many, many decades,” Bernanke told homebuilders today in Orlando, Florida. “Yet we are not seeing as much activity as we would like to see.”

Bernanke said that the pace of the recovery has been “frustratingly slow and,” didn’t discuss the outlook for monetary policy. He devoted part of his speech to recommendations from a Fed study on housing that was sent to Congress last month and which prompted criticism from some lawmakers, who said the Fed has overstepped its authority.

“The state of housing and mortgage markets may also be holding back the recovery of our financial system and the normalization of credit conditions,” Bernanke said today to the National Association of Homebuilders International Builders’Show.

Referring to the high standards of lenders following the housing bust, Bernanke said that “some tightening was no doubt necessary.”

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