Low mortgage rates and great prices aren’t enough to get people buying homes — so says Fed chairman Ben Bernanke in his testimony before the House Committee on Financial Services. That’s because too many people lack the cash for a down payment, and even the ones that have the money are skittish about their jobs.

Or, as Bernanke put it,

[M]any potential buyers lack the down payment and credit history required to qualify for loans; others are reluctant to buy a house now because of concerns about their income, employment prospects, and the future path of home prices.

Click here for the whole economic statement.