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Greenspan's been around a long time - what do you think about his comments? Is he a cheerleader, or a crazy economist?
No right or wrong answer here, what is your crystal ball telling you the economy will do in the New River Valley in 2009?
Posted on December 23, 2008 at 08:47 AM in Blacksburg, Christiansburg, Current Affairs, General Real Estate, Montgomery County, Mortgages, Radford | Permalink
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Considering Mr. Greenspan's record of missing signs of anything to do with the economy, then dramatically overreacting, I take his opinion with a truckload of salt.
That said, I'm of a dual mind on the topic. Though I agree the housing market is showing signs in large regions of slowing down for the U-turn, I'm also casting a weary eye toward the ARM loans beginning to make themselves known on the default front.
I'm an optimist, and have voted with my capital, but in just a few selected markets. The ARM defaults may tell the story, one way or the other.
December 23, 2008 at 02:16 PM
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