Housing Guru Robert Shiller - There May Be a Bubble Forming in Farmland Prices
Robert Shiller, however, thinks farm prices may have risen too fast already. His comments today:
- He isn't confident that real estate prices are going to keep going up for the longer term because of all of the uncertainties that exist following the financial crisis.
- He thinks we may only be half way through an extended weak period in the economy.
- Shiller believes that there may be a bubble in farmland where farm prices have risen 20% in the past year.
- If everyone is talking about farmland then we will officially know that there is a bubble.