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NAHB members who attend the 2012 International Builders' Show will have an outstanding opportunity to hear Federal Reserve Chairman Ben Bernanke deliver remarks during a special session at the board of directors meeting on Feb. 10.
Testifying before the Joint Economic Committee in Congress on Oct. 4, Bernanke specifically acknowledged housing's traditional role in fostering economic recovery and job growth and the challenges facing builders in today's market.
"The housing sector has been a significant driver of recovery from most recessions in the United States since World War II," he said.
"This time, however, a number of factors — including the overhang of distressed and foreclosed properties, tight credit conditions for builders and potential home buyers, and the large number of 'underwater' mortgages — have left the rate of new home construction at only about one-third of its average level in recent decades."
Chairman Bernanke clearly understands the contributions that builders can make to the economy when given the chance, and throughout his tenure he has been willing to meet with NAHB's leadership on a regular basis to receive updates on the state of the housing market and hear builder concerns.
Registered IBS attendees will be able to attend the chariman's Feb. 10 address on a first-come, first-served basis.
Further details on the time and location of Bernanke's address will be available closer to the event.
To register to attend the IBS, go to www.BuildersShow.com.
