Wednesday, October 19, 2011
Blame the house prices now for being too low!!!
There are good reasons for gloom â€” incomes have declined, many people cannot find jobs, few trust the government to make things better â€” but as Federal Reserve chairman, Ben S. Bernanke, noted earlier this year, those problems are not sufficient to explain the depth of the funk. That has led a growing number of economists to argue that the collapse of housing prices, a defining feature of this downturn