Who woke up through the looking glass? Is it us or Greenspan?
tata | Homepage | 11.21.07 - 6:48 am | #

try and keep an iopen mind on this. From his point of view the houseing sector is better then it has been in ~100 years. forclusers every where, land, and good homes are dirt chepa right now. Any one with the money can buy up a lot of property for pennies on the doller, this market lets the rich get that much richer.
moonglum. White; Non-Germanic | 11.21.07 - 7:02 am | #

I now call him Alan "Bubbles" Greenspan, because he never saw an asset bubble that he did not like.
Matthew Saroff | Homepage | 11.21.07 - 7:26 am | #

Greenspan needs to be packed off the Nursing Home for Retired Village Idiots. He made being obscure an art form with his endlessly confusing and ambiguous statements.
The Wanderer | Homepage | 11.21.07 - 7:38 am | #

*still speechless, tried to come here from the VA thread for relief; now BOTH eyes are bleeding*
Jen | 11.21.07 - 8:06 am | #

Guy probably rents and is looking to buy cheap.
dianeb | 11.21.07 - 8:08 am | #

And while we're on the subject of Greenspan, here's a Golden Oldie from those fabulous 80s:

One S&L in particular made Americans pay dearly: Lincoln Savings and Loan. run by Charles Keating. In 1985. Greenspan had lobbied Washington on behalf of Keating. He wrote a letter to Federal regulators in which he stated that. under Keating's leadership, Lincoln Savings and Loan had become "... a financially strong institution that presents no foreseeable risk." In fact. at the time, Lincoln was engaged in massive fraud and its investments were nearly worthless. It has been reported that Greenspan was paid $12,000 to write Keating's letter of recommendation. In the end. the Federal takeover of Lincoln would cost $3,000,000,000. Keating was convicted in state and Federal courts of fraud. racketeering, and conspiracy.

If you've got a strong stomach (Jen, you may want to give your eyes a rest before attempting this) read the entire article.
prof fate | 11.21.07 - 11:55 am | #

"As a matter-of-fact, cardboard box futures seem strong, with demand increasing for the foreseeable future..."

There's always a silver lining to every cloud...
ceabaird | 11.21.07 - 2:23 pm | #

moonglum does have a point
Hubris Sonic | Homepage | 11.21.07 - 3:24 pm | #

Excellent time to rent {don't buy yet} a tent, assume lots of mobility, and get into hunting and gathering before everyone else has the good places figured out.
Really, Citizens of the US, what else could possibly be in your futures?
RC | 11.22.07 - 12:12 pm | #