Monday, August 29, 2005

 

Greenspan Sees End Of Housing Boom

Alan Greenspan isn't feeling wonderful about housing costs lately, or to be more accurate, he's concerned that rapidly-rising housing costs are driving too much economic growth. He states that "prices could even decrease", which is about as close to a doom-and-gloom prediction that one is likely to get from Greenspan.

The upside? The Fed chairman thinks that a slowdown in the housing market could improve the national savings rate, decrease imports, and improve the trade deficit. Those would all be great things. It'd be better yet if those same things could be accomplished without immobilizing a large chunk of the population at the same time that jobs become increasingly more difficult to maintain in a particular geographic area.

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