Boehner's spending reductions would total more than $700 billion in savings beyond cuts that Democrats have proposed.

It could take years to eliminate the negative equity from many markets; HUD to unveil new plans this week.

There’s growing momentum within the party to extend cuts on those with higher incomes, too, given the stubborn recession.

HUD Secretary Shaun Donovan said Sunday the housing market's July woes were "worse than expected."

"They need to resign because the policies that they're putting in place are not being effective," Rep. Tom Price (R-Ga.) said.

A new poll by the Association of Equipment Manufacturers shows 90 percent of voters want Congress to pass legislation that "drastically increases manufacturing jobs." 

Consumer confidence increased slightly in August but less than forecast, according to a report released Friday. 

Sentiment rose to 68.9 in August from 67.8 in July, an eight-month low, according to a Reuters/University of Michigan consumer sentiment index. 

Within a healthy economy, confidence ranges around 90. 

The index is 3.2 percent below the rate a year ago as economic uncertainty grips consumer sentiment. 

The Federal Reserve chairman's address assuaged jittery markets unnerved by a series of negative economic reports in recent weeks.

With unemployment weighing heavily on the housing market, banks will need more capital to bolster the sagging sector. 

“There’s nothing more important to the economy than unemployment,” said analyst Meredith Whitney on Friday on Bloomberg Radio’s “The Hays Advantage.” 

“You have to make structural changes in the economy to address that problem. They’re not monetary issues.”