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November 30, 2007
Greenspan: Home Prices Still Falling
The housing market has yet to bottom out, and home prices nationwide will continue to fall, predicts former Federal Reserve chairman Alan Greenspan. He does not foresee a recession, however, due to economic flexibility created as a result of bipartisan deregulation of the financial markets, among other factors. Greenspan says he does not regret the stance he took on housing while at the helm of the central bank, even though some observers believe he helped to create a housing bubble by holding interest rates down for an extended period.
Posted by S. Germain at November 30, 2007 08:57 AM