Robert Shiller the man who predicted the tech bubble, and housing bubble talks about interest rates in a Bloomberg interview. Shiller is probably the only economist who makes correct calls, and when he speaks he should be listened to.
Robert Shiller is an economics professor at Yale University and chief economist at MacroMarkets LLC. He is also author of the best seller on the coming tech bubble Irrational Exuberance (published 2000)
In this video, Shillers talks with Bloomberg’s Julie Hyman about U.S. sales of previously owned homes in May, the impact of a government tax credit on home sales and the outlook for the housing market. Purchases of existing houses, which are tabulated when a contract closes, decreased 2.2 percent to a 5.66 million annual rate, figures from the National Association of Realtors showed today. (Source: Bloomberg)