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IPFS News Link • Housing

Bernanke: US Housing Slump Could Be Nearing a Bottom

Federal Reserve Chairman Ben Bernanke told Congress Tuesday the three-year U.S. housing bust may be near a bottom and that he expected the recession to end this year barring a relapse of the financial crisis.

2 Comments in Response to

Comment by Powell Gammill
Entered on:

And since this is Bernanke's annual the economy is improving tour...need I remind you of Tour 2007 and Tour 2008 where similar rah-rah pep talks where cheerfully dispensed and cheerfully reported by a gushing media...and turned out to be BS. Or have you forgotten your 401k's?

Comment by Powell Gammill
Entered on:
Well duh. I guess he can finally see the rock bottom rapidly approaching from the long fall.

PS: At some point the inflationary dollar will collide with the plunging home prices to the point where owners will simply refuse to sell below a certain point. As inflation increases this point will rise and allow the economic pundits to cheer---"see home prices are rising!" When in fact prices are at their true value and increases in price are due to devaluation in value of the dollar.

All you dollar saving foreigners now is getting to be the time to exchange that soon to be worthless cash for real property in the USA.