Robert Shiller

Robert Shiller: Were Living in a Very Abnormal Housing Market

Robert Shiller: Were Living in a Very Abnormal Housing Market

Case-Shiller Index co-author Robert Shiller spoke with FOX Business Network (FBN) about his thoughts surrounding homeownership. Shiller said that due to low interest rates “it might be a good time to buy.” Robert Shiller went on to say, “I suspect” home prices will continue to go up “for the summer, how much longer is a big question. I think we are living in a very abnormal market with a lot of government stimulus that might be withdrawn.”

 Excerpts from the interview are below:

On whether it’s a good time to buy:

“This is really the lowest long term interest rates. I have data going back to 1871, we’ve never been this low before, strange, very strange and that’s why it might be a good time to buy. I sounded negative like I don’t believe that we are going back, but look at those interest rates.”

On whether we will can keep the home price numbers up:
“I suspect we will for the summer, how much longer is a big question. I think we are living in a very abnormal market with a lot of government stimulus that might be withdrawn. And the spirit isn’t, I think, quite back to where it was in the boom years.”

 

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