Greenspan Says Recovery Coming in Early 2009 For Real Estate

GreenspanTake this with a grain of salt.

Alan Greenspan is still trying to spin his magic as the economic orator and has come out saying that the real estate market will start it’s recovery in early 2009.

I hope he is right for all of our sakes but I do have to admit that Greenspan’s reputation has taken a hit in the past few weeks in our household. Hindsight is 20/20 but the mess he left Bernanke is coming home to roost now and we are all paying the price.

Greenspan wrote that the recent slowing in the rate of decline in U.S. home prices is the first positive note in the year-long trauma and that eventually, frozen credit markets will thaw “as frightened investors take tentative steps toward reengagement with risk.”

“More conclusive signs of pending home price stability are likely to become visible in the first half of 2009,” he wrote. via msnbc.com

Tags:

Related posts:
  1. Greenspan – Housing Bubble Not My Fault!
  2. Housing Plan Stuck, National Recovery In Hands of Real Estate Market
  3. Real Estate Agents Need To Be Trusted Advisors in 2009, Not Cheerleaders
  4. Federal Reserves Not Optimistic on Residential Recovery in 2009
  5. The New Real Estate Crisis Is Coming – The Next Ice Age

There Are 7 Responses So Far. »

  1. I just don’t see it. The inventory of properties (with many more foreclosures in the pipeline) will still grow for some time.

  2. [...] Alan Greenspan feels pretty good about the economic recovery. [The Real Estate Blogger] [...]

  3. The first line of this entry speaks volumes about how far Greenspan’s reputation has fallen recently.

  4. I think the world changed in mid-September with the Lehman bankruptcy and related fallout. Had we just continued on a slow path to recession, I might agree that housing is due for an upturn in early to mid 2009. Now I’m far less sure. The “slowing rate of decline” is a backward looking indicator, based on closed sales — and that data only reflects buyer behavior up through early August. We won’t see the effect of the September meltdown until the October sales data, which won’t be out until late November.

  5. Alan Greenspan has been flat wrong about the real estate economy for the last several years. Even though I believe some real estate markets will start showing signs of recovery in 2009, many real estate markets probably won’t show any significant change until 2010 and into 2011.

  6. Is not this guy who got us in this mess in the first place. I swear, it just seems like one fool after another. I just started in real estate and I can honestly say I don’t see the market turning around until 2010. The faster home prices fall, the quicker we will be back on track. While I am an agent, I think home prices are still WAY overpriced.

  7. we can hope!

Post a Response

« Back to text comment
  • Popular

    Most Comments

    Search

    Tags

    Archives

  • Recent Comments

    • The question is when are they going to release them on the market. Las Vegas leads the nation in ...
      Tony Sena | 19Nov09 | More
    • I keep seeing mentions of Florida's market getting better in multiple blogs. I'm increasingly under the assumption that at least ...
      Cary NC Homes for Sale | 19Nov09 | More
    • I would like to know more about it. I need to know how you file for it. Please let me ...
      Kala | 19Nov09 | More
    • Great blog, keep the great content coming!
      NickWaltersRE | 19Nov09 | More
    • If you want to succeed, do not say "we can prevent this in the future." Live in reality. ...
      Stephen Davis | 19Nov09 | More
    • Don't worry. Bail out number 2 on the way!
      Stephen Davis | 19Nov09 | More
    • The price of the property depends on its quality and the deal between the management. Good and wise choices are ...
      beaumont houses for sale | 19Nov09 | More
    • This is a sign that the real state industry is about to rise again maybe not on its peak but ...
      houses in beaumont | 19Nov09 | More
    • I don't have experience at actualy working in tha automotive bussinnes, but have experience working in a warehouse invironment. ...
      paula schmidt | 19Nov09 | More
    • We are seeing a strong sellers market in those areas that were hardest hit with the downturn. One nearby city ...
      Bob | 18Nov09 | More
  • Statistics

  • Friends

  • Recent Friends Visiting

  • Subscribe





    Get Updates Delivered Daily By E-Mail:

    Delivered by FeedBurner