A U.S. housing-market revival may prove illusory and the threat of
further weakness remains, said Robert Shiller, a professor at Yale
University and co-creator of the S&P/Case-Shiller index of property
values.
“The housing market has been declining for something like six years
now, it could go on, that’s my worry,” Shiller told Tom Keene in a
Bloomberg Television interview Thursday in Davos, Switzerland. “The
short-term indicators are up now, it definitely looks better, but we saw
that in 2009.”
The property market has shown signs of recovery and homebuilding has
rebounded as low borrowing costs spur buyer demand, bolster prices.
Values rose 7.4 percent in November from a year earlier, the ninth
straight increase and the biggest gain since May 2006, Irvine,
California-based data provider CoreLogic said last week.
READ MORE: http://www.moneynews.com/Economy/shiller-housing-home-real-estate/2013/01/24/id/472761?s=al&promo_code=122CB-1
No comments:
Post a Comment