Alan Greenspan said ” Although a ‘bubble’ in home prices for the nation as a whole does not appear likely, there do appear to be, at a minimum, signs of froth in some local markets where home prices seem to have risen to unsustainable levels.”
There was a logic to those comments, I thought. Those markets where prices inflated quickly would be most at risk for deflating quickly. It seemed that areas of the country that did not suffer from manic buying sprees should be relatively immune to those problems- but now I am wondering.
