Friday, October 27, 2006
US housing bust coming to an end?
Former Federal Reserve Chairman Alan Greenspan said Thursday the U.S. economy was pulling past a sharp housing sector downturn. Turning to the U.S. economy, he said it had gone through a very weak patch during the summer, due to an accelerating decline in housing construction and a slowing pace of inventory building. But the outlook was now "reasonably good." "Most of the negatives in housing are probably behind us," Greenspan said. "The fourth quarter should be reasonably good, certainly better than the third quarter."