Housing starts fell by 10% last month, building permits by 7% and housing sales by 2%.
Bloomberg asks housing guru Robert Shiller if the housing recovery is over.
Shiller thinks that the recent meteoric rise in mortgage rates (up 1% in the past couple of months) could be a big part of the decrease in the recent weak housing numbers.
Shiller doesn't think that housing prices are currently low. Adjusted for inflation, Shiller thinks that prices are about where they should be on a historical basis.
Shiller does signal out some markets like Phoenix and Las Vegas as still being attractively priced.
Bloomberg asks housing guru Robert Shiller if the housing recovery is over.
Shiller thinks that the recent meteoric rise in mortgage rates (up 1% in the past couple of months) could be a big part of the decrease in the recent weak housing numbers.
Shiller doesn't think that housing prices are currently low. Adjusted for inflation, Shiller thinks that prices are about where they should be on a historical basis.
Shiller does signal out some markets like Phoenix and Las Vegas as still being attractively priced.
