Well-known Yale professor and co-creator of the Case-Shiller Housing price index was on Bloomberg to discuss his outlook for the housing in the long term in light of recent data showing housing prices to have gone up by approximately 4.3%.
-- Data might be showing encouraging signs in the near term but long term outlook for the housing is still very fuzzy.
-- Why he thinks that way: In general the interest in home ownership has gone down and rentals have gone up. New housing construction data is more skewed towards increase in multi-family homes rather than single-family residential properties.
-- We are almost 40% down on housing prices since it peaked. But actually that has put in the normal range.
Credit and source: www.bloomberg.com, Bloomberg
Here is the video:
-- Data might be showing encouraging signs in the near term but long term outlook for the housing is still very fuzzy.
-- Why he thinks that way: In general the interest in home ownership has gone down and rentals have gone up. New housing construction data is more skewed towards increase in multi-family homes rather than single-family residential properties.
-- We are almost 40% down on housing prices since it peaked. But actually that has put in the normal range.
Credit and source: www.bloomberg.com, Bloomberg
Here is the video:
