Greenspan and the real estate bubble

There has been widespread denial that there could be anything like a real estate “bubble,” even given recent activity. Yet, anyone with a pulse can see wild speculation taking place all around them.

If we reflect back on the stock market bubble of 2000 ­ and, yes, it was in fact a bubble ­ we can see many similarities. Without a doubt, the level and severity of speculation we’re experiencing currently, particularly with single family residential homes, resembles the type of fanatic behavior we experienced towards stocks just before the end of the last stock market cycle…

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