Greenspan Calls Housing Bottom

Alan Greenspan, former head of the Federal Reserve, has predicted that housing will hit bottom at the beginning of 2009 when the market absorbs the excess inventory. He is, of course, talking about housing prices nationally.

Sacramento might already have hit bottom. Anecdotally, I see a lot of pent up buyer demand for bank-owned homes. Once the excess inventory gets bought up, watch the prices rise!