Documents Show How Fed Missed Housing Bust
No Fed official recognized the extent of the damage a housing bubble would cause. A year later, the housing market’s collapse helped send the nation into its worst recession since the Great Depression
Palm Coast, FL – January 13, 2012
Ben Bernanke presided over his first meeting as Federal Reserve chairman in March 2006 believing the nation’s economy could pull off a "soft landing" from falling home prices. Three months later, Bernanke had begun to grasp that he and others had underestimated the risk housing posed to the economy.
Newly released transcripts of Fed meetings during Bernanke’s first year as chairman show that, among Fed officials, he often expressed the most concern about housing. But no official, according to the transcripts, recognized the extent of the damage a housing bubble would cause. A year later, the housing market’s collapse helped send the nation into its worst recession since the Great Depression.
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Fed & Housing Bubble
The National Association of Realtors and every local MLS Board are the real crimnals, they simply kept jacking up prices to drive up commissions.
BANKERS ENABLED HOUSING COLLAPSE
The real culprits that caused the housing collapse were the banks. It is obvious that numerous businesses such as appraisers, realtors, title companies, attorneys, builders made enormous profits. Who allowed the banks to make highly risky loans? Wall street and politicians are the actual cause of the housing collapse.