The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: ChanceIs	10/25/2008 12:21:53 PM
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Recent Chris Thornburg presentations: beaconecon.com Lots of good charts and graphs. Specific to California but significant nationwaide coverage. From the most recent (top of the list), a swipe at Greenspan: Greenspan June 2005: “Although a "bubble" in home prices for the nation as a whole does not appear likely, there do appear to be, at a minimum, signs of froth in some local markets where home prices seem to have risen to unsustainable levels.” “[Home price declines] were they to occur, likely would not have substantial macroeconomic implications. Nationwide banking and widespread securitization of mortgages make it less likely that financial intermediation would be impaired than was the case in prior episodes of regional house price corrections.” _____________________________ People used to coo at Greenspan speak. Nobody could understand what he was saying so the conclusion was he was so smart and above it all that nobody else was able. We can't understand so it must be true.

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