Greenspan Declares Better Times Ahead
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First off let me state blogging rule number one: Do not edit your post in the online editor! Use a local PC editor first then copy and paste. The blog below will be my second post about this. But the first one was lost as I pushed publish, and I guess the digital gods did not like my timing. Poof! gone. No post. No saved post either. That was my fault and that was last night. I gave up to rewrite this with more optimistic eyes this AM.
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Ex-Federal reserve chairman Alan Greenspan declared to an economic panel in Calgary, Canada, sponsored by BMO Financial Group.
The U.S. housing market appears to be emerging from its recent travails and the "worst may well be over"..... "I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out.".... "There is a good chance of coming out of this in good shape, but average housing prices are likely to be down this year relative to 2005. I don't know, but I think the worst of this may well be over," he added.
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