Federal Reserve Chairman Ben Bernanke said that the bad US housing trend could continue for years, on Friday during a speech to the National Association of Home Builders in Orlando.
And Bernanke admits that the declines in home prices have forced many Americans to cut back sharply on spending. He says the broader economy won't fully recover until the depressed housing market turns around.
People are spending less because they are stuck in "underwater" homes, which are worth less than what is owed on the mortgage. And home values are falling because of foreclosures and tight credit — even in areas with lower unemployment.
In this environment, it is obviously hard to sell your house. Especially, in the Bronx or Brooklyn NY, where a lot of foreclosures are flooding into the market.
However, there is always a way to have your property sold for cash fast. For more detail, please visit our main website at WeBuyHousesBronx4Cash.com
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