Economist Says Too Early To Call Housing Turn
New York, NY, Oct. 1, 2012 -- Economist Robert Shiller says its too early to say the housing market is in a sustained rebound, according to a Bloomberg News story.
Shiller, creator of the S&P/Case-Shiller index that tracks house prices, says there is no “unambiguous” sign of a strong recovery.
Shiller and economists Karl Case and Anne Thompson make their case in a paper published by the National Bureau of Economic Research.
The study, which surveyed nearly 5,000 recent home buyers, seeks to determine the role buyer expectations play in house prices.
Generally buyers are more positive about short-term prices but less optimistic about long-term prices.