Mr Greenspan has signalled that interest rates must keep rising until the economy slows, and that such a slowdown is unlikely to happen if share priceskeepgoingup.
He believes that real-estate prices should keepgoingup over the next 20 years because the majority of Chinese people will want bigger and better homes.
The surge in mortgage debt suggests that consumers are assuming that incomes will continue to rise as fast as in the past, and that house prices too will keepgoingup.
Easton's stock of architecturally diverse houses often goes for 30 to 40 percent less than similar space in the New York region, but housing prices are goingup, and that's spurred questions about how Easton will keep living cost within reach for many residents.