Alan Greenspan: Double Dip in Home Prices Could Lead to New Recession

Alan Greenspan predicts a double dip recession
Alan Greenspan predicts a double dip recession

Alan Greenspan's prognostic opinion over the weekend on NBC's "Meet the Press" that a further drop in home prices could lead to a second or double-dip recession was a rather duh moment in the news of domestic economics.

With a battered and emotionally fragile economy, any negative headline news, like a further decrease in home values, will suppress investor and consumer confidence ... and so goes the economy.

Emotions aside, the future of the housing market looks to be one that dredges a saw-toothed bottom for quite sometime, so if Mr. Greenspan is right ... double-dip recession, the U.S. economy cometh. It's time to prepare everyone's expectations that the housing market isn't set for growth and mitigate the factors that foster such decrease in values.