Greenspan said the U.S. house prices is far from bottoming out

U.S. Federal Reserve Chairman Alan Greenspan before the Committee on the 31st in a television interview that the U.S. housing prices fall far from bottoming out.

U.S. President George W. Bush has just signed a relief package of bills the real estate market, Greenspan this time position that he does not think that the U.S. Government and Congress to take measures can have immediate effect. But he also pointed out that: "We concentrate on stabilizing the financial system, which is very important."

A number of data indicate that the United States very sluggish real estate market. Standard & Poor's Case - Schiller's housing price index showed that in May U.S. housing prices in 20 major cities in the same period last year decreased by 15.8%. National Association of Realtors said that sales in June fell to second-hand housing 10 to the lowest point. The Commerce Department said new home sales in June fell 33.2 percent year-on-year.

Greenspan from 1987 to 2006 as chairman of the Federal Reserve, some critics believe that the U.S. real estate bubble a few years ago during his term of office of its low interest rate policy has a lot.