Federal Reserve Chairman Alan Greenspan on Friday cautioned Americans against thinking the value of their homes and other investments will only go higher, saying “history has not dealt kindly” with that kind of optimism. From BusinessWeek.
Maybe now people will listen and begin regarding houses as places to live rather than places to flip.
Federal Reserve Chairman Alan Greenspan, saying the recent rise of stock and house prices reflects an increased willingness by investors to accept risk, warned Friday that this inclination could end badly for financial markets. (WSJ)