"Housing Still Overpriced By 40%, vs. Incomes"

Discussion in 'Economics' started by gnome, Mar 5, 2009.

  1. So says Robert(?) Shiller in Walter Deemer's institutional report, 01/23/2009...

    Also says, "... government trying to hold prices here is a huge waste of money and waste of effort..."

    If he's right, the markets have a lonnnng way to fall further.

    Dow < 3000 wouldn't surprise me... Not on this leg down, but at THE low... perhaps '14-'16.
     
  2. Bob111

    Bob111

    imo-he's right...they have long way to go..prices did not move a penny in my neighborhood from 2006 levels..single house still cost MINIMUM x5 to income..minimum..Talbot is also talking about same numbers in his book "Contagion"(good book,everyone should read,before even look at RE)
    what government is trying to do -make no sense at all..it not going to solve a problems.those,who not paying for mortgage not going to pay no matter what..
     
  3. links to a source for this report?