Greenspan 13 Years Ago: "Froth in housing markets"

With Fed Chair Powell testifying today, I took a look back at then Fed Chair Alan Greenspan's testimony in July 2005: Testimony of Chairman Alan Greenspan The apparent froth in housing markets appears to have interacted with evolving practices in mortgage markets. The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern . To be sure, these financing vehicles have their appropriate uses. But some households may be employing these instruments to purchase homes that would otherwise be......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2NYqtwi
via IFTTT