http://money.cnn.com/2011/06/09/real_estate/home_price_plunge/index.htm NEW YORK (CNNMoney) -- In an off-hand remark before cameras and microphones, economist and housing market guru Robert Shiller opined earlier this year that he would not be shocked if there was another 10% to 25% in the nation's home price plunge -- and he's not backing down from that statement. At a S&P Housing Summit in... [more]
http://money.cnn.com/2011/06/09/real_estate/home_price_plunge/index.htm
NEW YORK (CNNMoney) -- In an off-hand remark before cameras and microphones, economist and housing market guru Robert Shiller opined earlier this year that he would not be shocked if there was another 10% to 25% in the nation's home price plunge -- and he's not backing down from that statement.
At a S&P Housing Summit in New York, Shiller on Thursday reiterated his fears of falling home prices. It's not a forecast, he said, just a comment on his understanding of housing market trends.
He explained that speculative markets, like stocks or commodities, act like random walks. They go up and down all the time. Housing market direction tends to be more consistent.
"I worry that this is a real and continuing downturn, like in Japan," Shiller said. "It had a boom in the 1980s that peaked in 1991. Prices declined in the major cities for 15 straight years after that."
The U.S. housing market is hard to predict because the boom and bust it went through was unique. Shiller has studied historical price data back to the 1890s and found nothing like it.
"This is the biggest housing boom and bust in U.S. history," he said. "The bubble was unique. "That makes it impossible for statisticians to forecast because they deal with things that repeat themselves. You see a pattern and expect it to repeat."
It's even different from the Great Depression, when the home price plunge was at about the same rate. The big difference, however, was that prices of nearly everything else cratered in the 1930s as well -- which has not been true during the housing bust.
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Response by huntersburg
over 14 years ago
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Hey columbiacounty.
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Response by columbiacounty
over 14 years ago
Posts: 12708
Member since: Jan 2009
Hey...fuck you
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Response by huntersburg
over 14 years ago
Posts: 11329
Member since: Nov 2010
Sorry not into that.
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Response by w67thstreet
over 14 years ago
Posts: 9003
Member since: Dec 2008
Dang touched it again. Hmmmmmmmm. Wonder who this is? You sound familiar Lucille. You know alot, an almost encyclopedic knowledge of all of us here. Mmmmmmmmmmm.
Who has been here more than all of us? Who who who? I think I know. You know who I am. Why don't you return the favor?
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Response by lucillebluth
over 14 years ago
Posts: 2631
Member since: May 2010
oh god, this again. i don't know, who? i am franky flattered that people keep insisting that i am all these people, but i am no more than what i've always said. i'm sorry it's hard for you to accept that a drunk housewife who spends her days wiping tooshies and gossiping can get the better of you. that must really sting actually. probably more than your herpes.
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Response by columbiacounty
over 14 years ago
Posts: 12708
Member since: Jan 2009
The better of you?
Really?
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Response by lucillebluth
over 14 years ago
Posts: 2631
Member since: May 2010
look, don't feel bad. it's because you're a boy and i'm a girl. your superior big brain could never win a bitchfest. go count some money or something. read some sort of report and then explain the effect it will have on stuff. next time someone at the w67th household wants to have it out with lucille, make sure it's the mrs and not the sweet little man who thinks he knows how to be mean. because honestly, she's probably a cool lady.
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Response by columbiacounty
over 14 years ago
Posts: 12708
Member since: Jan 2009
Hfscomm1
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Response by aboutready
over 14 years ago
Posts: 16354
Member since: Oct 2007
lucille (and huntersberg and all the other identities) are too stupid to know this definition of "touch," which is so obvious that i've hesitated to even post it:
To affect the emotions of; move to tender response: an appeal that touched us deeply.
she's a doctor, of course she's been touched by many, assuming she has an ounce of compassion, something the trolls might not get.
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Response by cccharley
over 14 years ago
Posts: 903
Member since: Sep 2008
Wow what happened to this thread? I for one will marry you W67 but unfortunately you are quite taken. Miss all of you.
Also what's with all the time updates? We all have the time on our computers.
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Response by Rhino86
over 14 years ago
Posts: 4925
Member since: Sep 2006
I missed the turn at rancor town. I wish I had a strong view.
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Response by lucillebluth
over 14 years ago
Posts: 2631
Member since: May 2010
crazy lady sad. crazy lady need a friend.
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Response by aboutready
over 14 years ago
Posts: 16354
Member since: Oct 2007
lucille, quit talking about yourself.
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Response by lucillebluth
over 14 years ago
Posts: 2631
Member since: May 2010
crazy lady bad
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Response by Rhino86
over 14 years ago
Posts: 4925
Member since: Sep 2006
Quit talking about yourself....
Wow, touche.
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Response by cccharley
over 14 years ago
Posts: 903
Member since: Sep 2008
Lucille this is a Real Estate board. What is with the personal comments? Get back on topic. I know I went off topic but I will refrain.
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Response by alanhart
over 14 years ago
Posts: 12397
Member since: Feb 2007
Also, Lucille, it makes no sense to talk about Truth when she's not even here right now. For the record, it's Thursday morning at 9:38.
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Response by aboutready
over 14 years ago
Posts: 16354
Member since: Oct 2007
9:53.
For the record.
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Response by cccharley
over 14 years ago
Posts: 903
Member since: Sep 2008
okay now we're really bored. Isn't anything going on financially we can discuss?
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Hey columbiacounty.
Hey...fuck you
Sorry not into that.
Dang touched it again. Hmmmmmmmm. Wonder who this is? You sound familiar Lucille. You know alot, an almost encyclopedic knowledge of all of us here. Mmmmmmmmmmm.
Who has been here more than all of us? Who who who? I think I know. You know who I am. Why don't you return the favor?
oh god, this again. i don't know, who? i am franky flattered that people keep insisting that i am all these people, but i am no more than what i've always said. i'm sorry it's hard for you to accept that a drunk housewife who spends her days wiping tooshies and gossiping can get the better of you. that must really sting actually. probably more than your herpes.
The better of you?
Really?
look, don't feel bad. it's because you're a boy and i'm a girl. your superior big brain could never win a bitchfest. go count some money or something. read some sort of report and then explain the effect it will have on stuff. next time someone at the w67th household wants to have it out with lucille, make sure it's the mrs and not the sweet little man who thinks he knows how to be mean. because honestly, she's probably a cool lady.
Hfscomm1
lucille (and huntersberg and all the other identities) are too stupid to know this definition of "touch," which is so obvious that i've hesitated to even post it:
To affect the emotions of; move to tender response: an appeal that touched us deeply.
she's a doctor, of course she's been touched by many, assuming she has an ounce of compassion, something the trolls might not get.
Wow what happened to this thread? I for one will marry you W67 but unfortunately you are quite taken. Miss all of you.
Also what's with all the time updates? We all have the time on our computers.
I missed the turn at rancor town. I wish I had a strong view.
crazy lady sad. crazy lady need a friend.
lucille, quit talking about yourself.
crazy lady bad
Quit talking about yourself....
Wow, touche.
Lucille this is a Real Estate board. What is with the personal comments? Get back on topic. I know I went off topic but I will refrain.
Also, Lucille, it makes no sense to talk about Truth when she's not even here right now. For the record, it's Thursday morning at 9:38.
9:53.
For the record.
okay now we're really bored. Isn't anything going on financially we can discuss?
Buy OIH, now-ish.