Bringing it back to OCTOBER 2006
Greenspan: Housing market worst may be over
Former Fed chief sees applications for mortgages bottoming out
Updated: 3:11 p.m. ET Oct 9, 2006
WASHINGTON - The U.S. housing market appears to be emerging from its recent travails and the âworst may well be over,â former Federal Reserve Chairman Alan Greenspan was quoted as saying on Friday.
âI suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out,â Greenspan said at an event in Calgary, Canada, sponsored by BMO Financial Group, according to a transcript BMO made available.
âThere is a good chance of coming out of this in good shape, but average housing prices are likely to be down this year relative to 2005. I donât know, but I think the worst of this may well be over,â he added.
http://www.msnbc.msn.com/id/15198805/
Greenspan: Housing market worst may be over
Former Fed chief sees applications for mortgages bottoming out
Updated: 3:11 p.m. ET Oct 9, 2006
WASHINGTON - The U.S. housing market appears to be emerging from its recent travails and the âworst may well be over,â former Federal Reserve Chairman Alan Greenspan was quoted as saying on Friday.
âI suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out,â Greenspan said at an event in Calgary, Canada, sponsored by BMO Financial Group, according to a transcript BMO made available.
âThere is a good chance of coming out of this in good shape, but average housing prices are likely to be down this year relative to 2005. I donât know, but I think the worst of this may well be over,â he added.
http://www.msnbc.msn.com/id/15198805/