Jobless Recovery Says Beige Book

The economy is strengthening in most parts of the U.S. -- but the recovery isn't translating into new jobs, according to the Beige Book report released today by the Federal Reserve.

That doesn't bode well for the housing market, since long term unemployment is one of the top reasons homeowners are still losing their homes to foreclosure, and foreclosure is still the biggest threat on the horizon for the housing recovery, according to many experts.

But the report showed strengthening demand in the residential real estate market -- at least for low-priced homes.