"The Chicago Mercantile Exchange has a futures market for home prices…That's in backwardation now prices are expected to fall by something a little over 10% by 2024 or 2025. It may not be catastrophic, but it's time to consider that."Ī drop in home prices, Shiller says, looks very possible. Right now things look almost as bad," Shiller said. "Home prices haven't fallen since the 2007–09 recession. He told the outlet that he once again thinks the U.S. On Sunday, Shiller spoke with Yahoo Finance. home prices by 42% over the past two years-fizzles out, it raises the question: Does Shiller think we're in another housing bubble? Soon afterward, of course, the 2008 housing bubble burst.Īs the pandemic housing boom-which has pushed up U.S. Then in 2004, the Yale economics professor called attention to spiking real estate prices with a paper titled Is There a Bubble in the Housing Market? By 2007, Shiller predicted its bust was inevitable. Robert Shiller released a book in 2000 titled Irrational Exuberance, which proclaimed the stock market was a bubble.
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