Daily Real Estate News | April 21, 2009 | Share
Federal Reserve Vice Chair Donald Kohn says home sales and other consumer spending combined with big earnings at some banks indicate that the U.S. economy is on the road to a gradual recovery this year.
Kohn, speaking Monday night at the University of Delaware, said declines in sales and construction of single-family homes have abated, but tight credit in the commercial real estate market is slowing recovery.
"My best guess is that we are in for a relatively gradual recovery [this year]," he said.
Source: The Associated Press, Jennifer Malloy Zonnas (04/21/2009)
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