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WASHINGTON — Federal Reserve Chairman Ben Bernanke on Friday issued a call to action to restore housing markets, saying depressed house prices and sales are a serious drag on the economic recovery.
"The state of housing has been an impediment to a faster recovery," he said in remarks prepared for delivery to a home builders' conference in Orlando.
"Because the troubled housing market continues to depress construction activity and employment, we need to continue to develop and implement policies that will help the housing sector get back on its feet," Bernanke added.
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