Greenspan says bottom of home sales decline reached
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A bottom has been hit in the decline  of U.S. home sales, said former Federal Reserve Chairman Alan  Greenspan on Wednesday.
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The number of existing homes sold also fell, suggesting that the sharp decline in home sales seen earlier this year has for now leveled off.
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WASHINGTON - Sales of existing homes edged down a less-than-expected 0.1 percent in October as low mortgage rates continued to support a record year, a trade association report showed Tuesday.
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The dollar fell to its lowest in more than four years against the yen and dropped versus the euro after Federal Reserve Chairman Alan Greenspan said foreign investors will tire of financing the record current-account deficit.
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Slowing real estate sales coupled with the subprime mortgage mess are two of the reasons some people say a recession is nigh.
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Sales of existing homes edged down 0.1 percent in October, but low mortgage rates continued to contribute toward what might become a record year in home sales, a trade association report showed on Tuesday.
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U.S. new home sales fell more than  expected in July to the their lowest pace since December, as  higher mortgage rates cooled the housing market, a government  report showed on Wednesday.
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The record level of debt being carried by American households and soaring home prices do not appear to represent serious threats to the US economy, Federal Reserve Chairman Alan Greenspan said Tuesday.
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The dollar slid on Friday after  Federal Reserve Chairman Alan Greenspan said foreign demand for  U.S. assets, which has financed the country's massive current  account deficit and propped up the dollar,  would eventually  fall.
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US home sales and price declines in 2007 are going to be steeper than earlier forecast, contributing to slower economic growth, the National Association of Realtors said.
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Former Federal Reserve Chairman Alan Greenspan said in an interview published on Sunday that the U.S. housing slump is likely to deepen more than many analysts expect, recording as much as a double-digit drop.
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WASHINGTON, DC - US Federal Reserve chairman Alan Greenspan on Tuesday downplayed concerns over the record levels of debt being carried by American households.
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U.S. mortgage applications last week  sank to their lowest level in over four years, as home purchase  loan demand tumbled for the third straight week, an industry  trade group said on Wednesday.
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Alan Greenspan came to the home of the euro on Friday and suggested that the relentless decline of the dollar might well continue, offering little relief to those here
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Former Federal Reserve Chairman Alan Greenspan said Thursday night the American economy is "clearly on the edge" of a recession, and he pointed to the depressed housing market as a primary culprit.
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Pending sales of existing US homes fell in May to the lowest level in almost six years, new figures show.
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Former U.S. Federal Reserve Chairman Alan Greenspan warned Monday that the American economy might slip into recession by year's end.