Tuesday, April 12, 2005

Another Robert Shiller Article

"What do most people think might stop the momentum? Interest rate increases come to mind first. These factors can certainly play a role, but often they are not enough. After the boom of the 1970s, even after the 30-year mortgage rates surpassed 16 percent in the spring of 1980, Los Angeles home prices still managed to go up another 10 percent for the succeeding year."

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