| Federal Reserve Vice Chairman Janet Yellen said the housing market will undergo a “long, drawn-out recovery” and the Fed is working with other agencies to prevent foreclosures and clear the stock of vacant properties.
“Looking forward, I unfortunately can envision no quick or easy solutions for the problems still afflicting the housing market,” she said in a speech today in Cleveland. “Even once it begins to take hold, recovery in the housing market likely will be a long, drawn-out process.”..............................................Full Article: Source
|