Bullard: Housing Recovery Will Take Years

June 5, 2012 3:24 PM

James Bullard, President and Chief Executive Officer at the Federal Reserve Bank of St. Louis makes his remarks at the Bipartisan Policy Center’s BPC Regional Housing Forum in St. Louis on June 5, 2012. The Policy Center’s housing commission aims to reform the nation’s housing policy that will respond to near and long term challenges facing the housing sector. UPI/Bill Greenblatt

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ST. LOUIS (AP)- The president of the Federal Reserve Bank of St. Louis says recovery for the collapse of the housing bubble will take years.

James Bullard was among the speakers Tuesday at a forum in St. Louis hosted by the Bipartisan Policy Center Housing Commission and the Jack Kemp Foundation. Other participants included Democratic Congressmen William Lacy Clay and Russ Carnahan of St. Louis and former Republican Sen. Kit Bond.

Bullard says the financial crisis left households with too much mortgage debt. He and other panelists encouraged education programs to help low- and moderate-income people make better decisions on home purchases.

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