Greenspan: 'Local bubbles' build in housing sector (in Blue states)

USATODAY.com - Greenspan: 'Local bubbles' build in housing sector: "Federal Reserve Chairman Alan Greenspan said Friday that the Fed sees 'a lot of local bubbles' in the booming housing sector but that the central bank does not see a national housing bubble.

'We don't perceive that there is a national bubble, but it's hard not to see ... that there are a lot of local bubbles,' Greenspan said during audience questions after delivering a speech to the Economic Club of New York."

The Blue states!