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Thread: Housing Bargains Available but Only for the Banks

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    waltky's Avatar Senior Member
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    Angry

    Banks holdin' back housing market recovery...

    Bernanke blames banks for holding back housing market
    15 November 2012 - Mr Bernanke gave no hints about future Fed policy
    Ben Bernanke has said that the overly stringent lending requirements of banks are hurting the US housing recovery. In a speech, he said the housing market showed signs of recovery but was "far from being out of the woods".

    The Federal Reserve chairman said "the pendulum has swung too far" from the easy lending days of the housing boom. While mortgage interest rates have fallen to record lows, he said many borrowers, especially minorities and low earners, could not get a loan.

    Mr Bernanke was addressing a summit in Atlanta held by Operation Hope, a charity that provides financial advice to American citizens on middle and low incomes.

    'Missing piston'

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    roadmaster's Avatar Senior Member
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    Quote Originally Posted by waltky View Post
    Banks holdin' back housing market recovery...

    Bernanke blames banks for holding back housing market
    15 November 2012 - Mr Bernanke gave no hints about future Fed policy
    Only the rich will get the low interest rates.

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