Fed's Beige Book offers some positive news reads the headline

The Federal Reserve says it's “cautiously positive” about the economy in its widely watched regular report called the Beige Book.Eleven of the Fed’s 12 regions called economic activity in the area “stable,” “showing sings of stabilization,” or “firmed.”

Analysts said the economy is growing in the third quarter at an annual rate of 3 percent to 4 percent because businesses are spending more.

But the market for homes continues to be weak. In most areas, buyers are first timers and others purchasing the lowest-cost properties. Philadelphia was an exception: Sales there are up even for expensive homes.

In the commercial real estate market, sales were down, and construction was off in all parts of the country.

The Feds are seeing a light when in the depth of the tunnel and think it is daylight...those of us who are living in this environment see the light and know it is someone's candle flickering before going out....In what world can you look at increasing unemployment, significant underemployment a multi-billion dollar commercial mortgage liquidity crisis yet to happen and homes selling for $9,000 (that is not a typo) are things improving?! This is further evidence that the powers that be do not know any more now than they did two years ago when we were told that the sub-prime crisis was contained....in the end, we, the public, will get an education that we will be paying for through taxes for many moons to come....welcome to the 21st century!