Shiller: U.S. & European Markets Overvalued

Yale economist Robert Shiller says he thinks U.S. and European stocks are overvalued. “I would say the market is overpriced based on fundamentals,” Shiller tells CNBC. “The Dow [reaching] 12,000 doesn’t stimulate me to excitement.” Shiller also says the housing market is “inherently psychological”, and says he thinks we may see a renewed downtrend in home prices.

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