February 19, 2005

Housing bubble burst? Not here!

Alan Greenspan sees a housing bubble, but it's in areas of recent marked appreciation

Greenspan sees a problem, but I don't believe it's here. Testifying before Congress he says he anticipates a housing bubble burst in "certain" areas. But, if you look, the references are to parts of the country that have experienced double digit appreciation in recent years. You can only do that for so long. In Summit County, we have had steady, but mild, appreciation since 2001. 3-5% ain't bad. Nevertheless:

Federal Reserve Chairman Alan Greenspan yesterday said he sees a housing price bubble in "certain areas" and suspects prices are vulnerable to declines, but they will not collapse in any way that threatens the economy.

"I think we're running into certain problems in certain localized areas. We do have characteristics of bubbles in certain areas, but not, as best I can judge, nationwide," he told the House Financial Services Committee. More . . .


	Fed Chief Sees Home Price Bubble in Areas
	Yes, but where?
	http://www.rismedia.com/index.php/article/articleview/9381/1/1/

Topic Tags: Alan Greenspan, appreciation, housing bubble, Summit County

by Ken Deshaies

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by Ken Deshaies

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