In 2005, Fed Chair Alan Greenspan told Congress that a "bubble in home prices for the nation as a whole does not appear likely." Of course, not only had a housing bubble formed, it was nearing its peak just as Greenspan delivered that message on Capitol Hill.
Fast forward to 2022, and the scars of the last bubble have clearly made economists less afraid to acknowledge a housing bubble—even if they believe the bubble could be less dangerous than the one that formed in the early 2000s.
