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We had hoped to ignore the whole Greenspan Book Tour Media Madness, expecting it would be an extended, reverential dog-and-pony show lacking in news. We were wrong -- the old man had a few headlines in him, didn’t he?

Personally, we’re curious to know more about the ‘Iraq war was really about oil’ angle, but this blog is about housing, so we’ll stick with this headline from Drudge: ‘Greenspan Alert on Housing Prices’:

‘US house prices are likely to fall significantly from their present levels, Alan Greenspan has told the Financial Times, admitting that there was a bubble in the US housing market. ... In an interview ahead of the release on Monday of his widely-anticipated memoirs, the former chairman of the Federal Reserve said the decline in house prices “is going to be larger than most people expect”

More: ‘Mr Greenspan said he would expect “as a minimum, large single-digit” percentage declines in US house prices from peak to trough and added that he would not be surprised if the fall was “in double digits”.

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Photo Credit: Reuters