The Maestro’s latest prediction

Apparently Alan Greenspan wrote in an article for Emerging Markets Magazine that home prices would begin to stabilize in the early part of 2009.  Specifically, “More conclusive signs of pending home price stability are likely to become visible in the first half of 2009.”

Although many of the prophetic statements he has made in the past have failed to come to fruition maybe this could be an exception.  I personally tend to agree with him but I also think homes prices will remain low for another 12 months before any sign of widespread appreciation are evident.