Wednesday, 27 February 2013

Government Involvement and the durability of home-price gains

Professor Robert Shiller comments on the recent improvement in the S&P/Case-Shiller U.S. home price index,
It’s possible that home prices have hit a bottom, but heavy government involvement to stabilize the mortgage market and the broader economy has made it harder to gauge the durability of recent home-price gains.
The U.S. government has of course learned nothing from the previous government-induced housing boom. 

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