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U.S. housing prices to stabilize in 2009-Greenspan

Fri Nov 7, 2008 1:29pm EST

TORONTO, Nov 7 (Reuters) - U.S. housing prices, which have been hit hard by the financial crisis, will stabilize in the first half of 2009, former U.S. Federal Reserve Chairman Alan Greenspan said on Friday.

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Greenspan, speaking at a business lunch in Toronto, also said prices for U.S. homes could fall another five to 10 percentage points before stabilizing. (Reporting by Lynne Olver, writing by Frank Pingue; Editing by Peter Galloway)

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