Housing market guru Robert Shiller says it’s possible that the housing market has bottomed, but that he’s not confident it has. Shiller tells FOX Business Network that there is some good momentum forming in housing prices, but that part of the recent bounce has been seasonal. Shiller says that it’s possible that bubbles are forming in some areas of the U.S. housing market, citing Phoenix and San Francisco.
Wharton Professor and author Jeremy Siegel says a rebound in the housing market will help push GDP growth near 3% in the second half of 2012. “Housing is one of the few bright spots, but a very important bright spot in the economy,” Siegel told Bloomberg TV (hat tip to Business Insider). “When you talk about all consumer spending, and even in the investment category almost 25-30 percent is related to housing/furniture purchases, redecoration, renovation… Read More
Blackstone Group’s Byron Wien is seeing reasons for optimism in the U.S., though he thinks the stock market boom days of the 1980s and 1990s aren’t coming back anytime soon. “I’m actually kind of positive on the U.S. because I think some good things are happening,” Wien tells The Wall Street Journal in a side-ranging interview. He notes that housing has been a drag on economic growth since the housing bubble burst, but that housing… Read More
Housing guru Robert Shiller says the latest home price data is good news, and he expects prices to continue to rise through the summer months. Shiller tells FOX Business Network that he’s not sure what will happen beyond the summer, however, and that he is concerned that the worst isn’t over for housing. He talks about homebuyer psychology, and why he thinks buyers have been hesitant to jump into the market.
Yale Economist Robert Shiller says the long decline in housing prices may not be over yet. “Home prices show a lot of momentum; they’re not like the stock market. The real question is do we still have downward momentum?” Shiller tells FOX Business Network. “There are a lot of positive signs but a skeptic who believes in momentum and says it’s been going on now for six years, and I am a little bit… Read More
Yale Economist Robert Shiller says he’s not sure if the housing market has bottomed, and says it’s likely that an environment of austerity is behind the recent economic slowdown. Shiller tells CNBC that another round of quantitative easing “might help, but I don’t know that it’s going to overwhelm the general mood of austerity which is affecting confidence in all things, including housing.”
Yale Economist Robert Shiller, who predicted the housing market crash, says he thinks home prices could fall further, but he doesn’t expect more major declines. Shiller tells FOX Business Network that he thinks prices “could fall further — not that much probably — because there’s a readjustment in our thinking. … Our long-run opinions about real estate seem to be changing.” Shiller says people are rethinking the desire for large, sprawling houses and seeing the advantages… Read More
Yale Economist Robert Shiller famously called the housing bubble that led to the Great Recession and financial crisis. And in a recent interview with Brian Richards on The Motley Fool, he talked about how the myth of housing being a “great investment” came into being — and why it’s a myth.
Yale Economist Robert Shiller says he’s not sure the housing market has yet hit the turning point that some analysts say it has hit. Shiller tells CNBC that prices have been falling for four months now, but that indicators are looking stronger for the future. “I give it a chance that this could be a turning point but i’m not saying it is,” he says. “I think it’s still too uncertain to call a turning point… Read More
In his recently released fourth-quarter letter to Berkshire Hathaway shareholders, Warren Buffett reiterates his belief that stocks are a much better investment than gold or bonds, and explains why he sometimes hopes his equity holdings decline in price. The portion of Buffett’s letter in which he explains his belief in stocks over bonds and gold was published in Fortune a few weeks back, and we summarized his thoughts here. Here are a few highlights from other… Read More