The Frothy Housing Market

Greenspan-speak is sometimes so poetic and soulful, that it just gets me right in the gut, then I giggle and snort maniacally. Here's what he had to say about the housing market.

"Without calling the overall national issue a bubble, it's pretty clear
that it's an unsustainable underlying pattern," Mr. Greenspan told the
Economic Club of New York at the Hilton New York hotel in Midtown.

Mr. Greenspan emphasized that he sees no sign of a nationwide housing
bubble, but he acknowledged concerns over "froth" in the market and
pointed to a big increase in speculation in homes - particularly in
second homes. As a result, he said, there are "a lot of local bubbles"
around the country.

Now, given that I'm a home-owner on a peninsula, the nutsac, if you will of the greater Tampa Bay area, I'm not too worried about the housing bubble. I can see home price increases slowing down a bit in my area, but certainly not popping in true Pink Bubblicious fashion.

But this whole 'frothy' analogy... It's priceless. Alan Greenspan just gets more precious every time he speaks in public. Frothy brings up images of beer, a bubble bath, and of course santorum. Kind of like a first date. So adorable, sweet and pure.