Fed Governor of SF Mentions House Prices

Janet Yellen, Fed. Gov. in San Francisco gave an intereview and mentions housing as well as other factors driving the economy.

"I wouldn't rule out the possibility that there's a bubble and we could have house price declines ahead. If you look at the past history of housing prices, it's rare to see very rapid declines in house prices. They might decline a couple of percent a year but not like the Nasdaq that, in a year or so, was down 40 percent."