Fed's Kohn says no sign home prices stabilizing
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WASHINGTON (Reuters) - Federal Reserve Vice Chairman Donald Kohn said on Thursday there was no clear evidence the plunge in U.S. house prices was coming to an end."The jury is still out on whether housing prices are close to finding a bottom," Kohn said in prepared remarks for delivery at a Brookings Institution conference where he was commenting on a series of academic papers.He said some researchers have noted some easing in the pace of home price declines in some markets but said mortgage conditions have tightened since spring and that may have a further impact on prices since it makes it harder for buyers to qualify.(Reporting by Glenn Somerville; Editing by James Dalgleish) (c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
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