Sunday, August 28, 2005

Greenspan: end of housing boom inevitable

JACKSON HOLE, Wyo. (Reuters) - U.S. home prices could fall as the housing surge "inevitably" slows, Alan Greenspan said on Saturday as he cast doubt on central banks' ability to sway such asset values.

"The housing boom will inevitably simmer down," the Fed chief said. "As part of that process, house turnover will decline from currently historic levels, while home price increases will slow and prices could even decrease."

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