Greenspan expects housing prices to stabilize next year
While criticizing the government's response to issues plaguing Fannie Mae and Freddie Mac, former Federal Reserve Chairman Alan Greenspan said he expected the U.S. housing market to stabilize within the next year. "Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009," Greenspan said. Stable housing prices in the U.S. are "a necessary condition for an end to the current global financial crisis," he said. Wall Street Journal, The (08/14)