The chief economist for Freddie Mac, Frank Nothaft stated that nationwide, housing sales have pretty much hit bottom. With that, one third of home sales taking place now are of foreclosed properties.
The president of the Federal Reserve Bank in Atlanta, Dennis Lockhart stated that the sharp declines in the commercial real estate market continue to pose a strong risk to the overall economy.
William Dudley, New York chief of the Federal Reserve Bank stated his opinion that current government assistance programs are being undermined by a public perception that these programs are unfair to the average taxpayer. This perception has caused some potential investors to become fearful of public outrage if they were to profit from these programs.
Dudley also stated that he felt is worth emphasizing that actions which lead potential investors to become fearful of taking a risk - especially in the current economic environment, will ultimately prove detrimental to the ability of businesses and households to obtain credit at affordable borrowing rates.
|
