Robert Shiller: Conflicted on Whether Housing Recovery Will Continue [VIDEO]

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Robert Shiller: Conflicted on Whether Housing Recovery Will Continue [VIDEO]
By World Economic Forum from Cologny, Switzerland [<a href="http://creativecommons.org/licenses/by-sa/2.0">CC BY-SA 2.0</a>], <a href="https://commons.wikimedia.org/wiki/File%3ARobert_Shiller_-_World_Economic_Forum_Annual_Meeting_2012.jpg">via Wikimedia Commons</a>

Case-Shiller Index co-author Robert Shiller spoke with FOX Business Network (FBN) about the future of the housing market in the United States. When asked whether he thinks rising interest rates will discourage people from buying homes Shiller said, “I’m not so sure anymore.” Shiller went on to say, that “I’m conflicted because I know there has been a lot of momentum in home prices…but this isn’t the same situation as in the past.”

Robert Shiller: Conflicted on Whether Housing Recovery Will Continue [VIDEO]

 

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Video and Excerpts from the interview with Robert Siller below

On whether rising interest rates will discourage people from buying homes:

“I’m conflicted because I know there has been a lot of momentum in home prices. They go the same way for years and years and in some sense it’s almost obvious – in one mood of thought I can think it’s obvious, buy a home now, flip it in a year or two and very likely to make a profit just based on historical behavior of home prices, but then again I think, but this isn’t the same situation as in the past. We have a lot more professional investors. We have a lot more potential flippers in the market and we have various clouds on the horizon, so I’m not so sure anymore. I wish I could be sure about these things.”

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