Sounds like a good time to buy a house cheap.
We are a long way from that. Housing is just an indication of what’s to come. People need to start learning how one makes money in both good times and bad. And fast.
http://www.freerepublic.com/focus/f-news/1899312/posts
“The Federal Reserve began a series of interest rate increases in 2004. We were hoping to bring the speculative excesses in the real estate sector under control. We failed. We tried it again in 2005. Failure.”
Hasn’t he said previously that it is best not to burst bubbles but to deal with the after-effects?
Now he admits they were trying to prick the irrational exuberance in the housing market.
According to the article you posted, Greenspan is saying it is not a good time to buy a house cheap, because they are going to get cheaper.
Here in California, houses are anything but “cheap”.
Ah yes, a buyer’s market....
Sounds like it maybe time for more rental houses, need to put those foreclosed folks up somewhere, and I’d be happy to get the rent from them...
If you want to catch a falling knife buy now.