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?
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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.
Posted by: BawldGuy | December 23, 2008 at 02:16 PM