Understatement of the Year Award
August 27th, 2005 by 
InLibrisLibertas
“Nearer term, the housing boom will inevitably simmer down. As part of that process, house turnover will decline from currently historic levels, while home price increases will slow and prices could even decrease. As a consequence, home equity extraction will ease and with it some of the strength in personal consumption expenditures. The estimates of how much differ widely.”
“Surely difficult challenges lie ahead for the Fed, some undoubtedly of our own making”
Posted in Real Estate, The Fed | 