Bernanke Cites Improving Housing Data
While it’s somewhat geographically anecdotal, I’m getting the feeling that the housing market is improving in Buckhead. Federal Reserve Chairman Ben Bernanke said Tuesday that the economy appeared to be stabilizing, but warned that a real recovery is still months away. “We continue to expect economic activity to bottom out, then to turn up later this year,” Bernanke told the congressional Joint Economic Committee, according to a prepared statement. Bernanke cited improved sales of existing homes as evidence that things are improving. He said sales have been “fairly stable”...
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