Case And Shiller Say Housing Is Better, Not Back To Booming - Not Our View!

By
Real Estate Sales Representative with Keller Williams Cornerstone Realty
https://activerain.com/droplet/Whg

Case And Shiller Say Housing Is Better, Not Back To Booming

Almost 2 months ago we wrote:

Shiller’s Bottom Line: Risk Lingers in Housing

"Chip Case and Robert Shiller are known for the gauge of home prices that bears their name, but as that indicator continues to draw cheers for a U.S. housing recovery the pair warn that things are not quite as rosy as they appear.

The latest S&P/Case-Shiller reading showed that the 20-city average of prices was up 9.3% in February from the prior year, driving talk that the housing market is ready to be a driving force for the American economy once again.

Not necessarily so, warns Shiller, who says that while housing is normalizing, the uptrend in prices is not particularly big on a historical basis and underlying indicators of economic health are not overwhelming."

 

Robert ShillerNow two months later almost all signs point to a continuing increase in real estate prices and shortage of inventory.  Some are even talking about new real estate bubbles that may be forming in some markets. 

And yet Shiller continues to look at "the glass as half empty".  Shiller does a great job with their Shiller-Case index, which is HISTORICAL data. 

We think they should stick to history and stop trying to predict the future.

 

 

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Rainmaker
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Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Bob, I came here this morning to leave a comment, but got interupted.  Fortunately your post was still open on this computer so here I am again.

More often than not I am amazed at the commentary about the real estate market.  Here in western PA we are doing jsut fine and have been despite what is or was happening in rest of country.  As you know western PA & western NY never go crazy with appreciation or depreciation.  We just trudge along and do our thing which is list & sell real estate.

My personal philosophy is that no matter what the market people will always have to sell or buyand I want to be their agent of choice.

Enjoy the holiday weekend.

May 25, 2013 08:57 AM #1
Ambassador
1,611,279
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Division Specialist

Maybe if they keep getting it wrong, sooner or later people will stop listening to them. 

May 25, 2013 01:07 PM #2
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Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team
Thanks Mary, we guess selling real estate is like "trudging" through the snow! Lets hope so Kevin, but negative news sells
May 25, 2013 10:22 PM #3
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