It Sounds Like the Fed is Getting More Serious About the Bubble

Last week, Greenspan commented how the housing market is getting “frothy” and today, the president of the Atlanta Federal Reserve Bank, Jack Guynn, warned that

["There are some local markets, especially in coastal Florida, where I've heard stories for more than a year about behavior that's got to be characterized as nothing other than speculation,"

"It makes me very uncomfortable," he added, "Some buyers, some builders, some lenders are going to get burned, could very likely get burned, in some of those local markets."]