Greenspan Says Housing Market Stable

The housing market isn't out of the woods yet, but it won't worsen, says former Federal Reserve Chairman Alan Greenspan.
Dow Jones News Service: REALTOR® Magazine Online
The housing market isn’t out of the woods yet, but it won’t worsen, former Federal Reserve Chairman Alan Greenspan told attendees at the annual Charles Schwab Impact conference in Washington yesterday.
"I think that while we are past most of it, there are a lot of negatives... but it is no longer subtracting from the [gross domestic product] growth," Greenspan says.

Greenspan also said potential adjustments in loan costs facing many homebuyers probably isn’t a serious concern either. While some individuals will feel the pinch as their payments rise, Greenspan says these changes are "very unlikely to have a macroeconomic effect."