By Michelle Jamrisko | BloombergBusiness
While Federal Reserve Chair Janet Yellen heaped praise on the U.S. labor market in her press conference on Thursday, the housing market got little love.
Residential real estate “remains very depressed,” she told reporters after announcing at the end of a two-day meeting that policy makers had decided against raising the benchmark interest rate. “Demand for housing should be there and should materialize as the job market improves and income growth improves.”
Related: Mortgage rates drop sharply after Fed announcement/Mortgage News Daily
