Fed Chairman Bernanke on Housing, Mortgage Markets, and Foreclosures

Today's Federal Reserve Speech:

The housing market remains central to the economic and financial challenges that we face. Because housing and mortgage markets are tightly interlinked with the rest of the economy, actions to strengthen financial markets and the broader economy are important ways to address housing issues. By the same token, steps that stabilize the housing market will help stabilize the economy as well.

In this regard, reducing the number of preventable foreclosures would not only help families stay in their homes, it would confer much wider benefits. Significant efforts have been taken in this direction, but more can be done.