Monday, October 22, 2007

Housing Quotes

“We've never had a decline in housing prices on a nationwide basis. What I think is more likely is that house prices will slow, maybe stabilise.”

Ben Bernanke (2005), then economic adviser to the president, was asked about the possibility of a decline in house prices on CNBC. Source.

"But let me be clear, despite strong economic fundamentals, the housing decline is still unfolding and I view it as the most significant current risk to our economy. The longer housing prices remain stagnant or fall, the greater the penalty to our future economic growth."

Henry Paulson (2007), Treasury Secretary, in remarks prepared for delivery at Georgetown University's law school. Source.

"It could conceivably make [conditions affecting investor psychology] somewhat adverse because if you believe some form of artificial non-market force is propping up the market you don't believe the market price has exhausted itself."

Alan Greenspan (2007), Former Federal Reserve Chairman, comments on the proposed "Super SIV" - a $75 billion Master Liquidity Enhancement Conduit designed to take on the assets of troubled structured investment vehicles (SIV). Source.

No comments: