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Friday, October 12, 2012

Banker: Westport Housing Market Performing ‘Well’

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Fairfield County Bank President Daniel Berta told the Westport Sunrise Rotary Club today that “housing is bringing us out of the recession and the Westport housing market is performing well—better than other nearby communities such as Weston and Ridgefield.” Berta pointed out that because consumers represent 70 percent of the gross national product, house purchases are a significant measurement of emergence from a recession. In reference to the critical role of community banks, Berta said these institutions represent 50 percent of loans to businesses under $5 million, which he categorizes as small businesses. Dave Matlow for WestportNow.com

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