House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals, including robust growth in jobs and incomes, low mortgage rates, steady rates of household formation, and factors that limit the expansion of housing supply in some areas.


October 20, 2005, in testimony to Congress's Joint Economic Committee.

Ben Bernanke Quotes

House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level...

House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level...

House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level...

House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level...