Garrett asks Greenspan for Real Estate Advice, in Committee

[Kire]

Greenspan says real estate bubble won't pop

Fed chief says it might shrink though
Friday, February 18, 2005


Housing prices may decline, but Alan Greenspan doesn't expect "anything resembling a collapsing bubble," the Federal Reserve chairman told the House Financial Services Committee on Thursday, according to the Washington Times.
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Greenspan was responding to U.S. Rep. Scott Garrett (R-N.J.), who told Greenspan he's buying a house in Washington, D.C., reports said.

"The bubble is about to burst as soon as I buy my home down here," Garrett reportedly lamented. Washington, D.C., is one of the many areas nationwide where home prices have jumped significantly.
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