It just makes sense, does it? Former Fed Reserve Chairman Alan Greenspan is said today that "you can't take 10 percent out of mortgage originations without some impact". His comment suggests that there will be a ripple effect in the economy from the subprime woes, even through he said it was "hard to find any such evidence".
I happen to think Greenspan is right...there will be an economic effect felt beyond the mortgage industry. At the same time, however, there may be good news in other sectors of the economy that offsets the mortgage marketplace meltdown...so we may not see the negative effects because there are just too many variables that can swing the economy up or down, or both! What do you think?
Here's a link to the full article: http://news.yahoo.com/s/nm/20070315/bs_nm/usa_economy_greenspan_dc.
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