Housing bubble
In the wake of the subprime mortgage and credit crisis in 2007, Greenspan stated that there was a bubble in the US housing market, warning in 2007 of "large double digit declines" in home values "larger than most people expect". However, Greenspan also noted, "I really didn't get it until very late in 2005 and 2006."
Greenspan "got it" late in 2005, and bailed in January, 2006.
Did he retire? No:
He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC.
He "got it" very late in 2005. He left the Fed on 31 January 2006.
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| Graph #1: The Dots Represent January 2006, the Month Greenspan Left the Fed |
// Via Random Eyes: http://newarthurianeconomics.com/fredbrowse/#50x
2 comments:
I have a new post up on mortgage equity extraction and PCE leading into the GR.
http://jazzbumpa.blogspot.com/2014/03/equity-extraction-and-personal.html
I'll repost at AB in the morning.
Cheers!
JzB
Got it.
Good one, Jazz.
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