While the housing market is far from returning to its pre-recession highs, there do seem to be a few bright spots on the horizon in terms of the country’s short-term real estate picture.
With Thanksgiving just around the corner, Americans are bound to be traveling far and wide to visit their family members and give thanks for the good fortunes they have enjoyed over the past year.
At the height of the Great Recession, a massive wave of foreclosures swept over the entire nation, sparing no region from an onslaught of underwater borrowers and long-stagnant real estate listings that dragged the economy into ever-deeper depths.
Over the past year, the housing market has been the leading force in turning around the once-depressed national economy, with sales booming from coast to coast and values soaring to pre-recession levels.
On Thursday, November 21, the Senate Banking Committee will take a vote on whether or not Janet Yellen, President Barack Obama’s nominee to succeed Federal Reserve Chairman Ben Bernanke, will in fact get one step closer to taking over as head of the nation’s central bank on January 31.
Despite continued uncertainty over the future of the national economy, stocks have been climbing higher and breaking records on Wall Street over the week ending November 15.
On Thursday, November 14, President Barack Obama offered the beleaguered American public something of a mea culpa when he admitted before the press that the rollout of his “landmark” health care reform bill was far from perfect – to put it kindly.
The effects of the 16-day government shutdown back in October have so far been large and varied, though many economists fear that much of the long-term damage from Congress’ bout of inaction is still yet to be determined.
By placing Massad as the head of the CFTC, the president is expected to use his the former TARP head’s high profile to urge congress to fully support this extremely thinly funded CFTC.