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Robert Shiller Tells Fox Business “Home Prices Show a Lot of Momentum”

May 29, 2012 | About:

Case-Shiller Index co-author Robert Shiller spoke with FOX Business Network (FBN) about the current state of the housing market in the United States. Shiller discussed today’s release of the S&P/Case-Shiller Home Price Index saying, “Home prices show a lot of momentum; they’re not like the stock market.” When asked what market currently looks healthiest, Shiller said, “The market that looks most impressive now is Phoenix.”

Excerpts from the interview are below.

On what the S&P/Case-Shiller Home Price Index for March indicates about the housing market:

“Home prices show a lot of momentum; they’re not like the stock market. The real question is do we still have downward momentum? There are a lot of positive signs but a skeptic who believes in momentum and says it’s been going on now for six years, and I am a little bit of that skeptic, might well say it’s going to keep going down. After the seasonal blip is over, it may not be over.”

On what market currently looks the healthiest:

“The market that looks most impressive now is Phoenix; I wouldn’t say healthy. There seems to be a bit of a boom going on and there’s excitement and it’s interesting to see that speculative excitement can come back to the housing market, at least in Phoenix.”


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