VNQ - U.S. Residential Housing Starts And Existing Home Sales - No Great Evidence Of Shiller's Housing Price Bubble
The Basic Shiller Contention
Robert Shiller, as we've noted recently, has been arguing that the US housing market looks very "toppy".
Shiller's Claim
He's been saying this for some time now:
The bursting of the US housing bubble in 2006 and 2007 played a major role in the 2008 GFC, with sharp declines in house prices forcing the subprime mortgage crisis and, ultimately, a recession.
And Shiller said we're here again.
Hmm, well, maybe:
"It would suggest declining home prices in the near future," Shiller, who teaches at Yale University, told Bloomberg