There is that Shiller Guy Again, Trying to Ruin All the Fun
"The man who brought you the dotcom crash is at it again - and this time he thinks the housing market will be the pin that bursts the world economic bubble.
Robert Shiller, the American author whose influential work Irrational Exuberance coincided with the peak of the internet boom in 2000, has added a new chapter to his book, and concludes that there will be an inevitable crash in property prices in the world's 'glamour' cities like Boston, Sydney, Paris - and London."The man who brought you the dotcom crash is at it again - and this time he thinks the housing market will be the pin that bursts the world economic bubble."
The one fault I find with prognosticators like Shiller is that they tend to be one-trick ponies. Abby Joseph Cohen called the bull market for Goldman Sachs in the mid-90s, but she missed calling the subsequent downturn. Elaine Garzelli was thought of as a guru for years beyond her usefullness because she correctly called the '87 crash. Although I agree with Shiller that real estate is over valued, I'm a little nervous because he was already right once in calling the burst of the tech bubble and it seems like an awful lot to ask of the man to be right with his bubble predictions for a second time in a row.
Robert Shiller, the American author whose influential work Irrational Exuberance coincided with the peak of the internet boom in 2000, has added a new chapter to his book, and concludes that there will be an inevitable crash in property prices in the world's 'glamour' cities like Boston, Sydney, Paris - and London."The man who brought you the dotcom crash is at it again - and this time he thinks the housing market will be the pin that bursts the world economic bubble."
The one fault I find with prognosticators like Shiller is that they tend to be one-trick ponies. Abby Joseph Cohen called the bull market for Goldman Sachs in the mid-90s, but she missed calling the subsequent downturn. Elaine Garzelli was thought of as a guru for years beyond her usefullness because she correctly called the '87 crash. Although I agree with Shiller that real estate is over valued, I'm a little nervous because he was already right once in calling the burst of the tech bubble and it seems like an awful lot to ask of the man to be right with his bubble predictions for a second time in a row.
posted by Little_Silvered at 10:20 PM
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