Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
ALAN GREENSPANIt signals problems with respect to currency markets. Central banks should pay attention to it.
More Alan Greenspan Quotes
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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History cannot be reduced to a set of statistics and probabilities.
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Market financed withdrawals of home equity in recent years.
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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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I’m a plain soap kind of guy.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
ALAN GREENSPAN