I was rather shocked to hear these comments coming from the Chairman of the Federal Reserve.
Out of curiousity, how are the real estate prices in your area?
Prices here in the Commonwealth are going through the roof.
A co-worker of mine sold her two-year-old home for a $100,000 profit....after only TWO years.
Mr. Greenspan is not God, so anything he says may not be considered infallible.
BUT, he is an economist, is he not, and like a weather forecaster who may forecast snow and actually get sunshine, he has certain past experiences and empirical data that he may be basing his conclusions and/or forecast on.
I think it is wise to listen to
him, though with a little grain of salt.