"Housing is in a bubble in many parts of the country and it is clear that price appreciation is clearly unsustainable"I say there will be at least a 505 drop and up to 70% in areas such as HI, CA, NV, AZ, WA, FL and NJ
He is a well respected man and people listen. I live in FL and it is scarey - we could see a 70% drop but I think it will be more gradual unless panic sets in (which it could)!!!!!!! I would just rather be safe.
grenspan made a dot com bubble and now a housing bubble