Top housing economist believes housing recovery is false, none of this is real

Zero Hedge Watch

Zero Hedge

Top housing economist believes housing recovery is false, none of this is real. Bob Schiller, a Yale economist famous for helping create the Case-Schiller home price indices, is pessimistic about the US housing recovery. While home prices are up significantly (the Case-Schiller index has gone up by double digits over the past four months) Schiller doesn't think these gains are sustainable. The market is speculative and driven by irrational exuberance says Schiller. He's also concerned about the resurgence of house flipping. What's important for most homeowners is the long-term trend. It doesn't help most Americans that prices have gone up for a couple months. Will homes retain value for years down the road or are we looking at another bubble? (VIEW LINK)


3 topics

Zero Hedge Watch
Zero Hedge Watch
Publisher
Zero Hedge

The Zero Hedge Watch feed provides a summary and link to a selection of articles from the Zero Hedge website

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.