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Archive for February, 2010

Good news for interest rates from WSJ.com:
Federal Reserve Chairman Ben Bernanke said the U.S. economy still needs record-low interest rates for at least several months because the recovery from a deep recession is expected to be slow. The jobs market is expected to remain weak and inflation subdued over the next couple of years, Bernanke said in his semiannual monetary policy testimony to Congress.

The Fed chief said the U.S. central bank is actively looking at what tools to use once the economy will need higher rates.

http://online.wsj.com/article/SB10001424052748704240004575085262786298500.html?mod=djemalertNEWS

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Started a new blog on Luxury Homes in the Bay Area at www.FineEstates.com. Will feed to www.DavidBergman.com soon.

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2/19/10 3:30 am President Barack Obama will announce plans Friday to provide an additional $1.5 billion- of which California is included – for a state-assistance program for homeowners worst-hit by the downturn in U.S. housing values. More to come.

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Active Listings in Santa Clara County is 1807 as of 2/1/10. 563 homes closed in Last 30 Days. The average days on market for Santa Clara County for single family homes is 47 days.

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