Economist Robert Shiller: “Homebuyers are a little optimistic about home prices”
Posted by Annalisa Burgos | September 24, 2009
The economist behind one of the most widely watched measures of the residential housing market is not sure where home prices are headed.
I caught up with Robert Shiller (of the Standard & Poor’s/Case-Shiller Home Price Indices) at the “Distressed Real Estate Summit” in New York City, where he shared his insight with more than 700 real estate developers, investors and other professionals. Hear what he has to say:
Shiller told attendees that current government efforts seem “like a big bailout,” and rather, we should focus on setting up “the framework for new economic systems” and “create a liquid market for real estate.”
Shiller is founder and chief economist of investment management firm MacroMarkets and co-developed the methodology behind the S&P/Case-Shiller Home Price Indices, which track changes in home prices in 20 metropolitan regions across the United States. Each month, investors look to the data for insight into the housing market.
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