Alan Greenspan
American economist and was Chairman of the Board of Governors of the Federal Reserve of the United States from June 2, 1987 until his retirement on January 31, 2006.
That said, there can be little doubt that exceptionally low interest rates on ten-year Treasury notes, and hence on home mortgages, have been a major factor in the recent surge of homebuilding and home turnover, and especially in the steep climb in home prices. 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.
The need for values is inbred. Their content is not.
American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
Once stock prices reach the point at which it is hard to value them by logical methodology, stocks will be bought as they were in the late 1920s not for investment but to be unloaded at a still higher price. The ensuing break could be disastrous because panic psychology cannot be summarily altered or reversed by easing money policies.
When trust is lost, a nation's ability to transact business is palpably undermined.
I really didn't get it until very late in 2005 and 2006.
While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.