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Posted AT 12:00 AM EST on 30/01/08

As Fed meets, housing hits 'grim milestone'

BARRIE MCKENNA

From Wednesday's Globe and Mail

WASHINGTON — � Ben Bernanke and his U.S. Federal Reserve Board colleagues face a stark reality as they ponder another injection of interest rate relief today: The housing slump is still getting worse. House price declines are accelerating, more homeowners are falling behind on their mortgage payments and foreclosures are going through the roof, according to fresh data from the front line of the U.S. economic slowdown. Across the U.

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