Greenspan: This is a once in a century crisis – Garland: One-bedrooms can’t cost $1 million

Greenspan: This crisis won't end until home prices "stabilize."

Garland:

This won't be over until home prices match the salaries paid to the individuals who will purchase them. It got stupid in 2001 and got stupider every year until banks failed.

Either salaries rise (inflation) or home prices drop, taking the banks and overly-leveraged individuals with them.

See you on the other side.

What will your industry do in the meantime?

-Garland