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Housing market now 'reminds me of 2006,' Robert Shiller says
Wow, nothing but gloom and doom on MarketWatch's home page this morning. Here's one link:
Home | Economy & Politics
Housing market now ‘reminds me of 2006,’ Robert Shiller says
Published: Oct 31, 2018 8:35 a.m. ET
‘I wouldn’t expect something as severe as the Great Financial Crisis coming on right now.’
by Andrea Riquier
Famed housing-watcher Robert Shiller said Tuesday that the weakening housing market reminded him of the last market top, just before the subprime housing bubble burst, slashing prices by nearly a third and costing millions of Americans their homes.
Home price gains moderated again in the most recent version of the closely-watched housing index that bears his name, which was released Tuesday, and Shiller, a Nobel Prize-winning economist, told Yahoo Finance that such data shows “a sign of weakness.”
Read: The man behind Case-Shiller on why the housing index has no Houston and why that’s no problem
Housing pivots take more time than those in the stock market, Shiller said. Still, “the housing market does have a momentum component and we’re seeing a clipping of momentum at this time.”
....
Housing market now ‘reminds me of 2006,’ Robert Shiller says
Published: Oct 31, 2018 8:35 a.m. ET
‘I wouldn’t expect something as severe as the Great Financial Crisis coming on right now.’
by Andrea Riquier
Famed housing-watcher Robert Shiller said Tuesday that the weakening housing market reminded him of the last market top, just before the subprime housing bubble burst, slashing prices by nearly a third and costing millions of Americans their homes.
Home price gains moderated again in the most recent version of the closely-watched housing index that bears his name, which was released Tuesday, and Shiller, a Nobel Prize-winning economist, told Yahoo Finance that such data shows “a sign of weakness.”
Read: The man behind Case-Shiller on why the housing index has no Houston and why that’s no problem
Housing pivots take more time than those in the stock market, Shiller said. Still, “the housing market does have a momentum component and we’re seeing a clipping of momentum at this time.”
....
