Greenspan: Worst Is Over For Housing
December 18, 2006
Former Federal Reserve Chairman Alan Greenspan said that the worst of the housing adjustment was over and that he was preparing to publish an analysis of the “serious dispute” over the true effect of mortgage wealth on consumer spending.
Housing starts and other additional data indicated that the dampening effect that a slowing housing market had on gross domestic product was at its maximum in the third quarter, when growth slowed to a weaker than expected 1.6% annual rate. This was relayed from him at an investor conference organized by investment bank Friedman, Billings, Ramsey Group, Inc.
Greenspan said he expected inventory of homes to come down to levels at a “reasonably rapid pace” and that “it looks as though sales figures have stabilized.”
Posted in All Things San Diego, Lending, Real Estate
Loving the San Diego Coast!
