Greenspan: U.S. Economy safe from mortgage woes - 2007-03-16
Troubles affecting lenders of risky mortgages are not likely to spill over into the broader economy unless housing prices see another substantial decrease, former Federal Reserve chairman Alan Greenspan declared Thursday. Growing concerns about risky mortgages by subprime lenders who provide loans to people with poor credit history have been making investors nervous.
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Housing slowdown may pinch small business - 2007-03-16
When Carol Venzin needed a loan to finance her hair salon business, the bank was happy to assist, provided she used her home as collateral. Venzin, who owns a Fantastic Sams salon in Pittsburgh, Pennsylvania, and three more in Harrisburg, had ample equity in her house to support the loan, but as the housing market cools off, some other small-business owners may face a credit shock.
Read the full story at Reuters