Former Federal Reserve Chairman Alan Greenspan said over the weekend that a decline in home prices could derail an already slowing economic recovery and send the US into a double-dip recession. Greenspan’s comments follow his successor Ben Bernanke’s remarks last week before Congress that the economy remains “unusually uncertain,” and that the Fed was readying itself to take new measures if the economy deteriorated further.
Greenspan warns home price decline could lead to second recession
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Why are existing home prices rising when sales are still so low?
Existing home sales fell in today’s report, but home prices are still up year over year, even with higher inventory and higher mortgage rates.