Well-known economist, Yale Professor and co-creator of the Case-Shiller housing price index Robert Shiller was on Fox Business to discuss his views on the housing market and house price trends. He also discussed his views on the upcoming fiscal cliff.
-- On the Fiscal Cliff: Doesn't know how that will play out but the inability of Congress to reach a consensus on will surely hurt confidence.
-- It surely hurt confidence when Congress wasn't able to reach a consensus on raising the U.S. debt limit up until the last minute.
-- U.S. home prices were up 2.3% in June. This is different than in 2010 as they were boosted by new home buyer credit. This time it is without any help from government, so this is a good news.
-- But it is too early to call a bottom for home prices as there are still some clouds on the horizon.
-- Shiller is still worried about declining consumer confidence and high unemployment rates.
Here is the video:
http://video.foxbusiness.com/v/1810749077001/
Watch the latest video atvideo.foxbusiness.com
-- On the Fiscal Cliff: Doesn't know how that will play out but the inability of Congress to reach a consensus on will surely hurt confidence.
-- It surely hurt confidence when Congress wasn't able to reach a consensus on raising the U.S. debt limit up until the last minute.
-- U.S. home prices were up 2.3% in June. This is different than in 2010 as they were boosted by new home buyer credit. This time it is without any help from government, so this is a good news.
-- But it is too early to call a bottom for home prices as there are still some clouds on the horizon.
-- Shiller is still worried about declining consumer confidence and high unemployment rates.
Here is the video:
http://video.foxbusiness.com/v/1810749077001/
Watch the latest video atvideo.foxbusiness.com
