Fed Chief Sees Home Price Bubble in Areas

85342 Resource 78724 78558 78558 1108837151022 1108837227304 Controlled 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.  <a href="http://www.rismedia.com/index.php/article/articleview/9381/1/1/" target="_blank">More . . .</a> 9 application/xml false Alan Greenspan appreciation housing bubble Summit County Fed Chief Sees Home Price Bubble in Areas Yes, but where? http://www.rismedia.com/index.php/article/articleview/9381/1/1/ Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1) 66.215.234.82 66.215.234.82 kdeshaies false true false false true 205866 false false true false false false true 78724 blog blogsite/SnowHome/web