Bubble Wrap

Extraordinary boom behind us.

Over at the Matrix, Jonathan Miller blogs punctuation: Its Official: Greenspan Declares Housing Boom Now Over

Greenspan said he doesn’t see home prices falling on a national basis, but instead in certain areas of the country. He warned reduced access of Americans to equity loan extraction would have an economic impact, which has had an “important effect” in stimulating the economy.

His based his comments on the fact that sales volume and mortgage applications are down.