U-Pack is the quick, convenient
way to move long distance.

U-Pack Long Distance Moving

Get a free moving quote!

It's fast & easy - no obligations

Federal Reserve Chairman speaks out on housing recovery

Federal Reserve Chairman Ben Bernanke recently spoke out on the housing recovery.

Federal Reserve Chairman Ben Bernanke recently spoke out on the housing recovery.

Federal Reserve Chairman Ben Bernanke recently spoke out about the conditions that he believes are leading to continued trouble in the housing market.

Bernanke recently said in an address to the National Association of Home Builders' board of directors in Orlando, Florida, that tight credit conditions are impeding housing and economic recovery efforts in the country.

The chairman said that banks continue to be reluctant to offer loans to both borrowers and home builders.

“Chairman Bernanke understands that today’s tight credit conditions are preventing qualified buyers from obtaining home loans and builders from getting financing for the construction of viable new home-building projects – and that this is harming the housing market as well as the overall economy,” said Barry Rutenberg, the newly elected chairman of the NAHB and a home builder from Gainesville, Florida.

According to a recent survey by Better Homes and Gardens, Americans are still in hopes of living the American dream and becoming homeowners. With the value of homes dipping drastically, more Americans are packing and moving into homes for cheaper prices, but the economy is still keeping some from living the American dream.