Realty is on mend, slowly, fed exec says

"Things are beginning to look up in Arizona, as they are for the nation. Still, the Phoenix housing market is nowhere near a return to health." The Tuesday pronouncement came from Janet Yellen, president of the Federal Reserve Bank of San Francisco, to a group of the Valley's leading real-estate and banking executives. "As the housing market collapsed and the nation fell into financial crisis and recession, your desert metropolis was set back on its heels," she said to the Phoenix chapter of land-economics group Lambda Alpha International.

Click here to view this article from its source.