Robert Shiller: "In Real Terms, Home Prices Have Never Been So High"

zerohedge2021-05-25

"In real terms, home prices have never been so high. My data goes back over 100 years, so this is something," Nobel prize-winning economist Robert Shiller toldCNBC's "Trading Nation." Shiller is the ...

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Comments

BBBBBBBBBB
2021-05-25
BBBBBBBBBB
Ok buy!
BBBBBBBBBB
2021-05-25
BBBBBBBBBB
Get a home!
bizmummy
2021-05-25
bizmummy
Asset bubble
TeslaLegend
2021-05-25
TeslaLegend
I’m buying the dip ?
Ashish
2021-05-25
Ashish
Yeah thanks to work from home and people with loads of money. Pls like and Comment
Matt_cjx
2021-05-25
Matt_cjx
Comment back
- TeslaLegend:
  OK
- sst9383:
  good.
  reply and LIKES , thanks

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My data goes back over 100 years, so this is something,\" Nobel prize-winning economist Robert Shiller toldCNBC's \"Trading Nation.\"\nShiller is the ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/robert-shiller-real-terms-home-prices-have-never-been-so-high\">Source Link</a>\n\n</div>\n","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Robert Shiller: \"In Real Terms, Home Prices Have Never Been So High\" </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRobert Shiller: \"In Real Terms, Home Prices Have Never Been So High\" \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-25 14:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/robert-shiller-real-terms-home-prices-have-never-been-so-high><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"In real terms, home prices have never been so high. My data goes back over 100 years, so this is something,\" Nobel prize-winning economist Robert Shiller toldCNBC's \"Trading Nation.\"\nShiller is the ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/robert-shiller-real-terms-home-prices-have-never-been-so-high\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":".SPX","symbol_name":"S&P 500 Index","start_time":0,"source_url":"https://www.zerohedge.com/markets/robert-shiller-real-terms-home-prices-have-never-been-so-high","article_id":"1175412440","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1175412440","pubTimestamp":1621923415,"columns":[],"sourceInfo":null,"weMediaInfo":null,"summary":"\"In real terms, home prices have never been so high. My data goes back over 100 years, so this is so","collect":0,"end_time":0,"defaultTopTitle":"zerohedge.com","property":[],"viewcount":null,"language":"en","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯"},"translate_title":"Robert Shiller：“按实际价值计算，房价从来没有这么高过。”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9},"content_text":"\"In real terms, home prices have never been so high. My data goes back over 100 years, so this is something,\" Nobel prize-winning economist Robert Shiller toldCNBC's \"Trading Nation.\"\nShiller is the co-founder of the S&P CoreLogic Case-Shiller home price index. He is worried about a housing bubble forming where the \"Wild West\" mentality pushes prices higher. He also is concerned about stocks and cryptocurrencies.\n\"I don't think that the whole thing is explained by central bank policy. There is something about the sociology of markets that are happening,\" he said.\nShiller has noticed that housing starts drive home prices. But last week, despite a shortage of homes and buildable property, home builders are easing production, paralyzed by surging commodity prices.\nIn April, single-family housing starts plunged 13% compared with March. This was thesharpest downwardmove since last April when the pandemic began. Despite Shiller's euphoric housing bubble warning, the latest data shows an emerging pattern in housing starts that is quite ominous from the past.\nHowever, Shiller points out there's \"a lot of upward momentum in housing markets and prices may not come down in a year.\" He believes the current housing market environment is similar to 2003, five years before the housing market crash in 2008.\n\"If you go out three or five years, I could imagine they'd [prices] be substantially lower than they are now, and maybe that's a good thing,\" he added. \"Not from the standpoint of a homeowner, but it's from the standpoint of a prospective homeowner. It's a good thing. If we have more houses, we're better off.\"\nMeanwhile, on an intermediate basis, Glenn Kelman, CEO at Redfin, told Bloomberg last week thathousing prices are set to cool. He said the housing market is in a frenzy, with most houses selling above the asking prices, which has never happened before.\nAfter record gains in the first quarter, some home prices may stall.\nAccording to the National Association of Realtors, nationwide, the median existing-home sales price rose 16.2% in the first quarter to $319,200, a record high in data going back to 1989.\nAccording to the Case-Shiller Home Price Index, we recently reported that home sales prices in the country's hottest markets had risen by their highest level since 2006. The index showed home prices in 20 major cities are up a shocking 11.10% year-over-year.\nBut outside the major metro markets,demand was even more robust, translating into the most significant YoY increase in median sales since 2006.\nKelman warned: \"I think you're going to see a little bit of air come out of the ballon,\" referring to the housing market bubble the Federal Reserve engineered by sending mortgage rates to record lows at the start of the virus pandemic in 2020.\nShiller's and Kelman's warning comes as home-buying sentiment has collapsed to its weakest since 1983...\n\nBetween Shiller and Kelman, both believe housing prices are in a frenzy. However, Kelman's view is that housing prices will cool on an intermediate timeframe, and Shiller is on a multi-year view. The broad consensus is that today's environment is not sustainable. But as we all know, the Fed can sometimes maintain bubbles for quite sometime.\n... and who may deflate today's housing bubble?\nWell, the Fed, of course, who has been hinting abouttaperingof bond purchases.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":138818918,"gmtCreate":1621925347734,"gmtModify":1704364545130,"author":{"id":"3581562365927542","authorId":"3581562365927542","name":"BBBBBBBBBB","avatar":"https://static.tigerbbs.com/973395458d7e1db24dbd4a689c79e8a2","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3581562365927542","authorIdStr":"3581562365927542"},"htmlText":"Ok buy!","listText":"Ok buy!","text":"Ok buy!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138818918","repostId":1175412440,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":138818097,"gmtCreate":1621925340019,"gmtModify":1704364544966,"author":{"id":"3581562365927542","authorId":"3581562365927542","name":"BBBBBBBBBB","avatar":"https://static.tigerbbs.com/973395458d7e1db24dbd4a689c79e8a2","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3581562365927542","authorIdStr":"3581562365927542"},"htmlText":"Get a home!","listText":"Get a home!","text":"Get a home!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138818097","repostId":1175412440,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":138811646,"gmtCreate":1621925294185,"gmtModify":1704364544639,"author":{"id":"3581497682222316","authorId":"3581497682222316","name":"bizmummy","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581497682222316","authorIdStr":"3581497682222316"},"htmlText":"Asset bubble","listText":"Asset bubble","text":"Asset bubble","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138811646","repostId":1175412440,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":138810258,"gmtCreate":1621925047074,"gmtModify":1704364539664,"author":{"id":"3572489627147183","authorId":"3572489627147183","name":"TeslaLegend","avatar":"https://static.tigerbbs.com/180ad6f06095bcbf2b6594d26c494752","vip":1,"hat":"https://static.tigerbbs.com/f84859c65fc2d7681e28f6b8e9b0535a","crmLevel":4,"crmLevelSwitch":1,"idStr":"3572489627147183","authorIdStr":"3572489627147183"},"htmlText":"I’m buying the dip ?","listText":"I’m buying the dip ?","text":"I’m buying the dip ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138810258","repostId":1175412440,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":138834260,"gmtCreate":1621924831950,"gmtModify":1704364536846,"author":{"id":"3554959936968759","authorId":"3554959936968759","name":"Ashish","avatar":"https://static.tigerbbs.com/3be2c16a3f991c655e70424d200c7389","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"3554959936968759","authorIdStr":"3554959936968759"},"htmlText":"Yeah thanks to work from home and people with loads of money.&nbsp;Pls like and Comment&nbsp;","listText":"Yeah thanks to work from home and people with loads of money.&nbsp;Pls like and Comment&nbsp;","text":"Yeah thanks to work from home and people with loads of money. Pls like and Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138834260","repostId":1175412440,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":138835550,"gmtCreate":1621924741270,"gmtModify":1704364535851,"author":{"id":"3579775660085519","authorId":"3579775660085519","name":"Matt_cjx","avatar":"https://static.tigerbbs.com/caca73862e27552f1ed9c206de3aedd3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579775660085519","authorIdStr":"3579775660085519"},"htmlText":"Comment back&nbsp;","listText":"Comment back&nbsp;","text":"Comment back","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/138835550","repostId":1175412440,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4441795,"gmtCreate":1621925056780,"gmtModify":1680790829968,"authorId":3572489627147183,"author":{"id":3572489627147183,"idStr":"3572489627147183","authorId":3572489627147183,"name":"TeslaLegend","avatar":"https://static.tigerbbs.com/180ad6f06095bcbf2b6594d26c494752","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.09.28","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":138835550,"type":1,"supId":0,"prevId":0,"content":"OK","text":"OK","html":"OK"},{"id":4441779,"gmtCreate":1621924826892,"gmtModify":1680790828284,"authorId":3583752155736395,"author":{"id":3583752155736395,"idStr":"3583752155736395","authorId":3583752155736395,"name":"sst9383","avatar":"https://static.tigerbbs.com/b77b7063d240f294d93107753a3e9b44","vip":1,"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":138835550,"type":1,"supId":0,"prevId":0,"content":"good.<br>\nreply and LIKES , thanks","text":"good.<br>\nreply and LIKES , thanks","html":"good.<br>\nreply and LIKES , thanks"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":12,"commentSize":17,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1175412440"}