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FHA loans helping first-time buyers return to housing market

FHA loans helping first-time buyers return to housing market

When Federal Reserve head Janet Yellen was asked recently about housing issues, she gave a classic economist's "on-the-one-hand, on-the-other-hand" answer. But because she neatly summed up the disparate economic realities confronting millions of owners, sellers, renters and would-be buyers around the country, it's worth taking a closer look. On the one hand, she said, rising home prices have been terrific news for many owners. "The increase in house prices is restoring the wealth of many households who have home equity as their major asset," she said. Though Yellen didn't cite specific statistics, the numbers have been impressive — even explosive in...

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