Yellen, Bernanke and a Housing Shortage for Millennials

Federal Reserve Chair Janet Yellen took some people off guard last month when she gave a downbeat assessment of the U.S. housing market.

“It remains very depressed, housing starts below levels that seem consistent with underlying demographics,” said Yellen in response to a question during the press conference following the September meeting of the Fed.

She added, “especially in an economy that’s creating jobs and we have lots of people who are still doubled up and demand for housing should be there and should materialize as the job market improves and income growth improves.”  Read more