| Jul 18, 2011 2:21PM Two press releases that came out on Monday may point to a new direction for the residential construction market and perhaps for housing policy. Home builders continue to have little optimism about the new home market according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for July. The index, floating near its bottom for since October 2008, did rise two points to 15 but this only partially recouped the three point drop seen in June. The NAHB HPI is a composite... Jul 13, 2011 3:04PM The Chairman of the Federal Reserve today told Congress in his Semiannual Monetary Policy Review that "Households report that they have little confidence in the durability of the recovery and about their own income prospects. Moreover, the ongoing weakness in home values is holding down household wealth and weighing on consumer sentiment." This is not encouraging news for a rapid recovery in America. Ben Bernanke went on to share what the Fed views as looming threats toward positive progress in the...
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