Greenspan Concerned About Risky Mortgages
Sunday, October 09, 2005
"The average home price soared by 13.43 percent during the 12 months ending June, the biggest gain in more than a quarter-century, according to the Office of Federal Housing Enterprise Oversight.Yahoo News
Nevada had the biggest increase, 28.13 percent, followed by Arizona, 27.82; Hawaii, 25.92; California, 25.16; and Florida, 24.45.
Greenspan has warned homeowners, lenders and investors that they should not count on similar increases. "History has not dealt kindly" with that kind of optimism, he said in August.
When the housing boom simmers down, prices will not rise nearly as much and could fall in some markets, he said."
posted by author @ 4:12 PM,
