Mountain Grove, MO Real Estate News

By Vicki Ussery
(DD Hamilton)
By Eric BurroughsTOKYO, Nov 6 (Reuters) - Former Federal Reserve Chairman Alan Greenspan and billionaire investor George Soros warned of more pain ahead for the U.S. economy, saying the downturn in the housing market had yet to take its full toll on growth.Greenspan told a forum in Tokyo on Tuesday that high inventories of unsold homes presented a major risk to the U.S. economy and financial markets and that he was not sanguine about how quickly the glut could be reduced."We still need to accelerate the rate of inventory liquidation, and that will mean bringing housing starts down and sales up. We have a long way to go," said Greenspan, who was answering questions at a CEO conference in Tokyo via video link from Washington.The surge in defaults in subprime mortgages has taken a toll on ...
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