Galveston Economy getting better January 21,2011
More good news to get your buyers/sellers off the fence. Economy growing
stronger = rising interest rates = rising home prices.
Daily Real Estate News | January 10, 2011 | Share
Fed Chair: Economy Is Growing Stronger
Federal Reserve Chairman Ben Bernanke expressed more optimism about the
economy in his most recent testimony Friday to the Senate Budget
Committee, while also defending the Fed's controversial plan to buy an
extra $600 billion in government bonds to keep recovery moving forward.
Bernanke predicted a "moderately stronger" overall pace for the economy
in 2011, noting the Fed has seen "increased evidence that a
self-sustaining recovery" is occurring.
He cited improvements in consumer spending and a drop in jobless benefit
claims as signs of recovery. However, he said it would take four to five
years for the labor market to return to normal unemployment levels. The
U.S. jobless rate dropped to 9.4 percent from 9.8 percent last month,
but he noted the decline was partially due to a number of people leaving
In his testimony to the Senate Budget Committee, Bernanke defended the
Fed's controversial plan to purchase $600 billion in government bonds, a
move he says will boost the economy by lowering interest rates and
"Doing nothing will not be an option indefinitely," Bernanke told the
Senate Budget Committee. "Diminishing confidence on the part of
investors that deficits will be brought under control would likely lead
to sharply rising interest rates on government debt, and, potentially,
to broader financial turmoil."
Exterior Amenities: This will also be very good for property management wanting to fill thier Galveston Apartment Rentals.