Housing Recovery: Greenspan Speaks Out

According to an article he wrote recently for Emerging Markets magazine, former Federal Reserve Chairman Alan Greenspan says he sees the U.S. housing market will begin to recover in the first half of 2009.

Greenspan wrote that the recent slowing in the rate of decline in U.S. home prices is the first positive note in the year-long trauma and that eventually, frozen credit markets will thaw "as frightened investors take tentative steps toward reengagement with risk."

He wrote, "More conclusive signs of pending home price stability are likely to become visible in the first half of 2009. Once the housing market finds it footing, markets will be able to tackle the core issues of the credit crisis."

How much weight do you put in what the former Fed Chairman says? We’d love to hear your comments and feedback on his remarks. Just click the comment link below and sound off. Your email address will never be published here.

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