Shiller: Housing market crash on the way. Belfiore: Not here

DS News

The U.S. housing market may be headed for a crash, according to 2013 Nobel Laureate for Economic Sciences Dr. Robert J. Shiller. Shiller, citing the S&P CoreLogic Case-Shiller index, notes that property values in 20 cities decelerated for a 15th month in June, increasing 2.1% from a year earlier. Shiller noted that adjusting for inflation, prices had already flattened.

“It would suggest declining home prices in the near future,” Shiller told Bloomberg Television on Thursday. “I wouldn’t be at all surprised if house prices started falling.”

Also falling were price gains in 10-city composite, which dropped from 2.2% to 1.8% in June. The 20-city composite posted a 2.1% annual gain, down from 2.4% the prior month.

READ ON: 

“The reality here in Arizona continues to prove different than in other parts of the country.  Home prices increases are accelerating rather than decelerating, along with demand.  The habitual shortage of housing and falling mortgage rates are accommodating, allowing sellers to charge more.  With both new and resale demand increasing at near-double-digit paces relative to the same period a year ago, price gains are not expected to slow; they are far more likely to rise.

The reality here in Arizona continues to prove different than in other parts of the country.  Home prices increases are accelerating rather than decelerating, along with demand.  The habitual shortage of housing and falling mortgage rates are accommodating, allowing sellers to charge more.  With both new and resale demand increasing at near-double-digit paces relative to the same period a year ago, price gains are not expected to slow; they are far more likely to rise.”

~Jim Belfiore , founder and president Belfiore Real Estate Consulting

Share this!

Additional Articles

Top master-planned communities for 2024

By AZ Big Media Here are the Top 10 master-planned communities in Arizona, based on public voting for the 2024 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona

Read More »
News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

September 2019
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30