Realtor Coaching & Training: Interview
Robert J. Shiller
HREU Students and future students…listen to this guy… Dr. Robert Shiller was among the very few to warn of a housing bust before it happened. Shiller is the co-creator of the closely watched S&P/Case-Shiller Home Price Indices.
Dr. Shiller believes that housing could indeed be approaching a bottom. But, don’t pop the champagne corks just yet…
He predicts that prices might remain ‘at the bottom’ for years to come as the United States remains in a liquidity trap very similar to what caused the Great Depression.
During a recent interview, Newsmax.TV’s Dan Mangru asked Shiller where he sees the housing market going from here.
“In the United States, home prices have been dropping at a rapid clip,” Shiller responded.
“However, in the latest S&P/Case-Shiller data, the rate of decline seems to be reduced, and in fact, in seven of our 20 cities, home prices were rising in April. So it does seem to me that we are getting closer to a bottom at the very least.”
Last week, demand for home-purchase loans decreased and the unemployment rate now stands at 9.5 percent, Mangru pointed out, and asked: Are home buyers just scared?
“I think having really high unemployment is naturally scaring people,” Shiller said.
“And we don’t know that it’s over yet. We had a really bad unemployment report, and unemployment could easily exceed 10 percent. People know that. That’s one reason the personal savings rate has risen to 6.9 percent, levels we haven’t seen in decades.
“Even though the confidence surveys seem to be relatively upbeat, I don’t know if it really translates into willingness to purchase yet.”
Even though this is a housing lead recession..housing WON’T lead up out as some have hoped for.
He told Newsmax.TV he doesn’t think some proposals calling for increased tax credits for all home buyers is a good idea.
He sees the $8,000 tax credit for new home buyers as stimulative because it forces new home buyers into the market rather than existing homeowners who would put their existing properties up for sale.
In discussing the overall economy, Shiller said the United States had avoided an economic catastrophe because of intervention by the Federal Reserve and Treasury, but the nation remains in a bad recession.
Instead, Shiller foresees a risk of a weak economy for years to come.
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Hello,
This is a reminder for you to attend this weeks FREE Superstar Interview…
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EVENT: FREE Super Star Interview
DATE & TIME: Friday, October 24th at 9:30am Pacific
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Speak with you soon!
Tim and Julie
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Join us for the Free Super Star Interview..
Featuring Harris Real Estate University Superstar
Jeremy McChesney.
Here is the information for your schedule:
EVENT: Super Star Interview
DATE & TIME: Friday, August 29th at 9:30am Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://HarrisRealEstateUniversity.com/urlforward.php?job=eHu2SC9l28&link=1&recip=bynHq8mQwqZfTDe
Also, don’t forget to read the new posts on the blog. We are updating the
blog with new vital real estate information at least once per day. As you know
HREU is always focused on keeping you way ahead of the curve.
Here is the link to the blog:
When was the last time you visited www.HREU.tv?
We are posting new educational and motivational videos for you on a weekly basis.
Here is the link to the the video channel:
Remember, stay connected with Harris Real Estate University.
P.S. Would you like to schedule a free coaching call with a HREU coach?
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