Photo: Bloomberg Television
Robert Shiller has previously said that there is no guarantee that home prices will go up. And today’s home price reading reinforced that view.In an interview with Reuters he said a weak labour market, higher gas prices, and lack of consumer confidence would likely see home prices continue to stay low:
“I worry that we might not see a really major turnaround in our lifetimes.”
He also said that suburban areas are likely to see bigger price declines because higher gas costs will cause a rising demand for
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