Monday, October 09, 2006

Housing Market: "Worst Over" or Not?

Experts and analysts and regular ol' nobodies are always forecasting and predicting. Here's what some people think about the current housing market.

Today former Fed chairman Alan Greenspan said:
"I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out... I don't know, but I think the worst of this may well be over..."

Journalist Robert J. Samuelson, of Newsweek, may think otherwise. Yesterday, he wrote:
"But real estate—which has acted as a national piggy bank, with homeowners borrowing and spending against rising house prices—no longer looks so trustworthy. On this, more than falling oil prices or a record Dow, hangs the economy's immediate fate."


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