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Fed's Duke - Housing Market Still Fragile; Recovery Hurt by Uncertainty

U.S. housing markets remain weak and recovery is hurt by uncertainty over new lending rules and the fate of Govt support for housing
She said it is not easy to decide what to do about the GSEs , or how best to promote a robust secondary market
She added that she sees some evidence of equilibrium in U.S. home prices, albeit at low levels
She also said that tight lending standards constraining borrowing, particularly by first-time home buyers make demand tepid

Quotes

"It will not be easy to decide what to do about the GSEs (government-sponsored mortgage enterprises), or how best to promote a robust secondary market, or what form crucial regulations should ultimately take."

"Nevertheless, until these tough decisions are made, uncertainties will continue to hinder access to credit, the evolution of the mortgage finance system, and the ultimate recovery of the housing market,"

Elizabeth Duke, Fed Governor

publié: 2012-05-15 14:52:00 UTC+00

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May 23 at 16:05 UTC