Wednesday, January 18, 2017

Rising home values aren't enough to shake consumers' memories of the financial crisis

Shoppers look at merchandise at a Walmart store in Secaucus, N.J. Consumers still see value in buying and owning homes. Yet with memories of the recession still fresh in their minds, the recent lift in real estate prices hasn't been enough to persuade them to spend against that growing value.

In a keynote speech at the National Retail Federation's annual conference in New York on Tuesday, William Dudley, president of the Federal Reserve Bank of New York, said this consumer hesitancy is one reason retail sales have been held back.. . . more

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