[tkret]

Originally Posted by tankdvr1950

For whats its worth....check out the article in today's WSJ.....if Mr Greenspan is right.....we will not see the bottom until possibly the end of next year.

http://online.wsj.com/article/SB1218..._us_whats_news

An interesting article and even the author, David Wessel, states that Alan's "crystal ball has been cloudy". Mr. Wessel is being kind. This is what AG "predicted" in 2006

"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."
-Alan Greenspan, October 6, 2006


Sorry, but those in the trenches, like RealtyTrac, for instance, say 2009 is too soon! Even with all the government attempts to help struggling homeowners, foreclosures continue to rise. This adds to the imbalance between between buyers and sellers. When this happens in any commodity, that effects the price of the item....too much inventory results in lower prices.