Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Home price gains less than zero for long term: Shiller

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/26/2013 | 07:35pm CET




ANCHOR (OFF-CAM) ENGLISH SAYING:

You've been cautious in the past, are you more encouraged by this latest data?

ROBERT SHILLER, PROFESSOR OF ECONOMICS, YALE UNIVERSITY (ENGLISH) SAYING:

Well, definitely we're seeing more evidence of a rebirth of the housing market. One thing I've learned over years from looking at housing market, they're very different from the stock market. They have momentum. And when they start going up, they generally keep going up for a year or even more.

ANCHOR (OFF-CAM) ENGLISH SAYING:

With prices now solidly back on the rise and consistently back on the rise, are you worried about a bubble at all?

ROBERT SHILLER, PROFESSOR OF ECONOMICS, YALE UNIVERSITY (ENGLISH) SAYING:

Yes. Well, I'm always worried about- this has become a speculative market. There's been a change in our market psychology over the last 50 years. Volatility has just been growing. And people used to just take it for granted. When the time comes, I'll buy a house, and now they're thinking it's- and if you think, and maybe you have to jump in early or get out early. And so that is driving, and especially in cities like Phoenix and Las Vegas, it's driving that kind of sentiment. And that may be reversed. The thing you have to remember is in the longer run, these things, they don't stay up. They go down again.

ANCHOR (OFF-CAM) ENGLISH SAYING:

So the implications of this speculative market then are what? Timing in terms of when people get in and out of the market or are we looking at perhaps setting ourselves up for another collapse in housing prices?

ROBERT SHILLER, PROFESSOR OF ECONOMICS, YALE UNIVERSITY (ENGLISH) SAYING:

Right. Well, right now, someone who is thinking of buying might want to buy now rather than a year from now. On the other hand, the inventory is low. And you might not find the house you want or you're going to live in for years. So you have to balance those things. As far as the longer run thing, I don't know, I don't see a lot of optimism, room for optimism that home prices are going to just go up like they did the last time. I don't think they will. They'll go up somewhat and then likely come back down. So it's, I think basically people should, in making a home-buying decision, should think what do I want, take your time to find what you really want and don't go into it because of some speculative reason

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
12:59p Saudi hits new oil output record in November amid OPEC cut talk
12:56p TWENTY FIRST CENTURY FOX : Some shareholders unhappy over terms of Murdoch's Sky bid - report
12:54p BOEING : deal likely to double Iranian aviation fleet's seats
12:53pDJHYUNDAI MERCHANT MARINE : Enters Into Limited Cargo Agreement With 2 Million Alliance
12:48p RUPERT MURDOCH : Some shareholders unhappy over terms of Murdoch's Sky bid
12:41p SAUDI ARABIA, IRAQ BOOST OIL OUTPUT IN NOVEMBER : OPEC sources
12:40p VISIT HELSINKI : Helsinki Supports Saara Aalto, The X Factor UK finalist
12:39p Taj and Shangri-La hotel chains form groundbreaking alliance
12:37p Russia signs Rosneft deal with Qatar, Glencore
12:36p GENERAL MOTORS : Cadillac disavows casting call for 'neo-Nazi' character in brand ad
Latest news
Advertisement
Latest Videos
USA - ROSNER
Positive macro picture for U.S. consumers - BNP Paribas
SINGAPORE - ROSGEN
U.S. dollar has further to rally - Citi
UK - SHAH
Fiscal consolidation may lead to rate upgrade for India - Shah
UK - PARSONS
QE makes the rich richer and the poor poorer - NAB
USA - AMOBI
Turner Broadcasting a bright spot for Time Warner - S&P Capital
SINGAPORE - ROSGEN
Good environment for equities now - Citi
UK - SHAH
Investors want to see India cut subsidies - Shah