NEW YORK -- A bottom has been hit in the decline of U.S. home sales, said former Federal Reserve Chairman Alan Greenspan Wednesday.
Greenspan was speaking at a trading technology conference in New York. He also said that the U.S. housing sector was experiencing an "inventory recession."
© Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters.
Editor's note:
2007: A Year of Financial Reckoning. Get our FREE special report.
Why gold could skyrocket in 2007. Two best ways to cash in.
Best way to insure your investments from a 2007 market crash.