Friday, March 9, 2012

ROBERT SHILLER: This Might Be The 'End Game' For Falling Home Prices

Anyone who follows Robert Shiller closely knows that it's hard to get him to commit to calling a bottom in the housing market, which continues to see prices fall.

"I just don't see any scientific way to be assured what it's going to do," he told CNBC in an interview today. This is coming from the same economist who predicted the housing bubble in the second edition of his book Irrational Exuberance.

However, his tone seems to have turned a bit more optimistic.

"It could turn around," Shiller told CNBC's Brian Sullivan. "We're seeing some good news now. Starts, permits, confidence, the NAHB housing index is strikingly up. It's still low, but it's up."

CNBC's Mandy Drury pursued the matter further: "Where is the endgame, Robert?"

"Well, in terms of housing, we might be at the end game," Shiller responded. "Home prices are back to a normal level. They could just stay here, and that would be all right, right? Read more......

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