Greenspan quote from October 2006.

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 “worst may well be over,” former Federal Reserve Chairman Alan Greenspan was quoted as saying on Friday.

“I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out,” Greenspan said at an event in Calgary, Canada, sponsored by BMO Financial Group, according to a transcript BMO made available.

“There 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 don’t know, but I think the worst of this may well be over,” he added.



http://www.msnbc.msn.com/id/15198805/

 

Greenspan wrong....What an incredible shock!!!! :eek:

 

Must be nice to be paid a a half a mil to speak out of your @$$....

 

Very sad to see the effects of Alzheimers and dementia at work.

 

Can't believe he got it wrong. Always had a lot of respect for him...

 

Just goes to show that no matter how experienced, skilled, well-informed you are, one can never know for sure what will happen. Future events are un-predictable.

 

I think you have nothing else to talk about...

The man said "I don't know" and that it "may be over"...