Recovering house market lifts US earnings

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Recovering house market lifts US earnings

3News NZ

Man walks past a Citibank in New York (Reuters)

Man walks past a Citibank in New York (Reuters)

As Wall Street's latest corporate reporting season gets underway, US banks are announcing record profits.

A recovering housing market is helping lift earnings.

Watch the video for the full story.

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Comments

16/10/2012 2:23:56 p.m.

Greg wrote:

U.S. house prices dropped 40%+ plus since 2007. Ours barely hit a speed bump because the banks over mortgage the market and values; largely thanks to fraudulent property finance companies. Th U.S. bankrupty laws make it much easier to recover financially as the debt it totally written off; here your stuck in a 5 year term, and life time poverty. When the Euro collapse the whole system will topple like a house of cards.

15/10/2012 2:16:33 p.m.

Meagan wrote:

I don't know who your source is, but banks are simply hoarding money given to them by our government in the US. My house is still in the tank and I am upside down by thousands of dollars on my home. I would reexamine your source for this story. Its either from the banks themselves or the government. Might want to find an independent source...