Alan Greenspan in the news

Alan Greenspan is on a book tour and is sharing some insight on his tenure as Federal Reserve Chairman.  He is also sharing his ideas on our current Real Estate and Mortgage market conditions. 

Financial Times published an article with some interesting quotes about where we stand and what he believes lies ahead. 

Mr Greenspan said he would expect “as a minimum, large single-digit” percentage declines in US house prices from peak to trough and added that he would not be surprised if the fall was “in double digits”.

Alan Greenspan, April 2005

                                                                                                                                                                                              

Photograph by: David Burnett

The Federal Reserve will meet on Tuesday and most analyst believe we are in for a .25 or .50 percent reduction in the fed rate.  The fed rate (currently at 5.25%) is the basis for the prime rate (typically fed rate + 3%) which most Home Equity Lines of Credit are based on. 

Mr. Greenspan could not have picked a better time to release his memoirs.