In an interview with the Financial Times Alan Greenspan said the United States has a housing bubble. He said that, at a minimum, there would be large single-digit percentage point declines in US house prices and that he would not be surprised if the fall was in double digits. Greenspan also claims that he had warned about the housing bubble when he made a comment that some housing markets were experiencing "froth."
Greenspan's outright acknowledgement that the U.S. is experiencing a housing bubble is huge news. His failure to do anything serious to confront a bubble that he had recognized at the time also deserves media attention.
A second Trump administration will cement a right-wing majority on the Supreme Court for a generation, and put our collective future in the hands of someone who will be virtually unchecked by our institutions. The country has shifted rightward, and the reverberations will ensue for potentially the next few decades. In this climate, a robust independent media ecosystem will be more important than ever. We're committed to bringing you the latest news on how Trump's agenda will actually affect the American people, shining a light on the stories corporate media overlooks and keeping the public informed about how power really works in this country.
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