Rosenberg Doubtful Of Housing Recovery’s Legs

The U.S. housing recovery has encouraged many investors in recent months, but Gluskin Sheff & Associates Chief Economist David Rosenberg isn’t sure the rebound has legs. Rosenberg tells CNBC that, while “we’ve certainly had a housing recovery,” the recovery has been in large part a result of housing starts — which plummeted during the Great Recession — catching up to underlying demographic demand. To keep improving, Rosenberg says more first-time buyers need to be involved.… Read More

Shiller Still Not Sure About Housing Rebound

While many believe the housing market has turned a corner, Yale housing guru Robert Shiller isn’t so sure. Shiller tells Bloomberg that while short-term indicators are up, that also happened in 2009, but the trend didn’t turn into a long-term one. Shiller also talks about the broader financial system, which he says has gotten “a little better”. And he says that we’re a long, long ways away from the climate of “irrational exuberance” that can lead… Read More

Sonders: Housing Recovery Should Continue — And Help Labor Market

Charles Schwab Chief Investment Strategist Liz Ann Sonders — whose calls on both housing and the economy have been quite accurate over the long term — says housing should continue to give the economy a boost in 2013. “In an economy that continues to grow at a pace below trend, the lift from housing will become very important,” Sonders — who warned of a housing downturn in 2006 when few were thinking of it, and… Read More

Shiller Still Not Sure Housing Has Bottomed

Yale Economist and housing guru Robert Shiller says he thinks housing prices will continue to rise for a few months, but he’s not sure the upswing will continue after that — and he doesn’t think another housing boom is coming any time soon. “A lot of people seem to think that if the market turns around, that means more of the same, meaning another big boom,” Shiller tells CNBC. “I don’t think that’s in the… Read More

Shiller Doubtful of Housing Recovery

Yale housing guru Robert Shiller says he’s still not convinced the housing recovery is real. Shiller tells CNBC that some 10 million homeowners are still underwater on their mortgages, and many will end up in foreclosure. Those foreclosures will add inventory to the housing market, he says, and economic risks at home and abroad are also a concern. “I still think it’s a risky market,” he says. Shiller also says that the potential elimination or… Read More

Sonders: Don’t Sell Housing Rebound Short

Charles Schwab’s Liz Ann Sonders says that a rebounding housing market will have more of an impact than many believe it will have on the economy. “People are still underestimating the impact that this is going to have,” Sonders said at the Schwab Impact 2012 conference, CNBC reports. “What people are underestimating is the ripple effect of confidence.” Sonders says that “just about every metric in housing is starting to turn here,” pointing to builder… Read More

Buffett, Berkshire Add to Housing Recovery Bet

Warren Buffett’s firm is continuing to bet on a recovery in the U.S. housing market, with one of its subsidiaries taking the lead in managing a new residential real estate affiliate network. HomeServices of America Inc., a subsidiary of Berkshire’s MidAmerican Energy Holdings Company, will be the majority owner of the affiliate network, teaming with Brookfield Asset Management to offer a new franchise brand, Berkshire Hathaway Home Services, Bloomberg News reports. The move is the… Read More

Shiller Study: Housing Recovery No Sure Thing

In a new paper, housing guru Robert Shiller and two of his colleagues say they aren’t yet convinced the housing market is in a recovery. “A recovery may be plausible, and home prices have been rising fairly strongly in recent months, [but] we do not see any unambiguous indication in our expectations data of sharp upward turning point in demand for housing that some observers, and media accounts, have suggested,” Shiller writes, along with Karl… Read More

Shiller: Not Clear if Housing Has Bottomed

Yale economist and housing guru Robert Shiller isn’t ready to say the housing market has bottomed. “There are a lot of positive indicators, but I think people tend to overreact to these,” Shiller tells CNBC. “And if you look at the trend, which has been down since 2006, it’s a pretty strong trend that we have to see reversed. I might call it later this year, that we’ve reached the bottom, but I’m not ready… Read More

Shiller Not Convinced Of Housing Turnaround

While many signs are pointing to a housing market recovery, Yale Economist Robert Shiller — who was among the earliest to call the housing bubble that burst in the late 2000s — isn’t convinced. “His reasoning?” writes The Wall Street Journal’s Joe Light. “The home-price rebound, if that’s what it is, doesn’t yet have momentum — which Shiller’s research has found is the most powerful driver of home prices.” Momentum is a much bigger force… Read More