Greenspan Says Housing Boom Is "Over".

Source: USA Today

Now may be a good time to sell that condo or house you have listed and get out of the housing market on top, while you still can.

Former Federal Reserve Chairmen Alan Greenspan believes the housing market may soon be bottoming out, and when this guy makes statements like this, they usually are right on the mark.

NEW YORK -- In his first public comments as a private citizen since leaving the Federal Reserve in January, former chairman Alan Greenspan said Thursday that the housing "boom is over" but did not share his views on hot issues such as inflation, interest rates or Fed policy.

"This has been quite an extraordinary (housing) boom," Greenspan said during a Bond Market Association dinner in New York. "The boom is over. I think we can safely say that with a strong degree of confidence."

However, he said, there is "no evidence that home prices will collapse." While he did not rule out price declines in "frothy" markets, he said it is too early to determine what impact a slowing housing market would have on consumer spending.

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