"Robert Shiller, who coined the term “irrational exuberance,” is one of our favorite economists. He really nails it here on the structural shifts taking place in housing. We agree there is a generational change going on in the sector where the younger “connected” cohort groups are shunning McMansions in the ‘burbs.
Also, the risks of a Japan-like multi-decade slump in housing is much higher than the markets perceive. Is Mr. Bernanke listening?..."
at http://www.creditwritedowns.com/2012/03/shiller-japan-like-housing-slump-in-america.html
Also, the risks of a Japan-like multi-decade slump in housing is much higher than the markets perceive. Is Mr. Bernanke listening?..."
at http://www.creditwritedowns.com/2012/03/shiller-japan-like-housing-slump-in-america.html
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