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June 29, 2005

All Business: Would housing bust mirror tech collapse?

  • It's easy to see how comparisons of the housing market to Wall Street's technology heyday come to mind.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Federal Reserve Chairman Alan Greenspan sees signs of "froth" in some local housing markets, but says overall the nation doesn't appear to be in a housing bubble that could potentially burst.

    Such a sanguine prediction might do little to calm the nerves of anyone who remembers when the dot-com stock boom went bust five years ago and how that led to a market-wide bloodbath. Investors lost wealth that they have yet to recover and Wall Street's collapse played a significant role in pushing the economy into a recession.


     
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