Yale economics professor Robert Schiller on ideas to cure and prevent the current housing & mortgage collapse.
Robert Schiller is an academic, and best-selling author. He currently serves as the Arthur M. Okun Professor of Economics at Yale University and is a Fellow at the Yale International Center for Finance, Yale School of Management. Shiller has been a research associate of the National Bureau of Economic Research (NBER) since 1980, was Vice President of the American Economic Association in 2005, and President of the Eastern Economic Association for 2006-2007. He is also the founder and chief economist of the investment management firm MacroMarkets LLC.
Shiller is ranked among the 100 most influential economists of the world.
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Robert Shiller, he made his case 4 years ago for addressing housing prices, and warned that a dramatic fall in prices would lead to widespread systemic risk….read his wealth affect study….sucks to be right….
San Diego real estate agents
Obviously, the big homebuilders have a different perspective, but the bottom line is the same. Prices will continue to decline until unemployment stops growing.
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If you could not afford to buy a house then you should not have. Plain and simple.
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