Austrian School

Western Cities Top U.S. Home Price Declines

Yes Maverick blame Greenspan. What did he do that made him so great? All he did was the easy thing, just keep easing everythime the market tries to correct. Just keep running down hill. Eventually you reach the bottom of the hill and have nowhere to go, thats where we are now. So instead of have several small corrections, we're going to have one big disaster. The market players were just doing what you'd expect when put in an interest rate environment created by Greenspan.