Key Words: Housing market now ‘reminds me of 2006,’ Robert Shiller says

Getty Images
Dr. Robert J. Shiller, 2013 Nobel Laureate for Economic Sciences, is growing concerned about the housing market

Famed housing-watcher Robert Shiller said Tuesday that the weakening housing market reminded him of the last market top, just before the subprime housing bubble burst, slashing prices by nearly a third and costing millions of Americans their homes.

Home price gains moderated again in the most recent version of the closely-watched housing index that bears his name, which was released Tuesday, and Shiller, a Nobel Prize-winning economist, told Yahoo Finance that such data shows “a sign of weakness.”

Read:The man behind Case-Shiller on why the housing index has no Houston and why that’s no problem

>>> Original Source <<<