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Some big cities at risk of another housing bubble: Shiller
Reuters ^ | Thu Jun 27, 2013 6:35pm EDT | Tim Reid

Posted on 07/05/2013 5:02:14 AM PDT by Olog-hai

Dramatic home price gains in some of America’s largest cities point to a potentially new housing bubble in those areas, according to Robert Shiller, who helped create a closely watched gauge of U.S. housing prices.

Shiller said big price gains in Las Vegas, Los Angeles, San Francisco, Miami and Phoenix, fueled in part by a large influx of outside investor money, are a possible sign of trouble ahead.

“There is a risk of bubbles in these cities,” Shiller, a co-founder of the S&P/Case-Shiller Home Price Index, told Reuters on Wednesday. “House prices increases have been dramatic. It looks like the beginning of the last bubble.” …

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Crime/Corruption; Miscellaneous; News/Current Events
KEYWORDS: caseshillerindex; housingbubble; housingbubble2; outsideinvestors

1 posted on 07/05/2013 5:02:14 AM PDT by Olog-hai
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To: Olog-hai

House flippers can not sustain a market that is overbuilt over the long haul. Many of us explained what was coming eight years ago.


2 posted on 07/05/2013 5:08:16 AM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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Comment #3 Removed by Moderator

To: MrEdd

Many of us explained what was coming eight years ago.

"Oops"
 
Yep.
 
And what happens next still depends upon the historic Chinese Appetite...
 
Scarlet Memorial: Tales Of Cannibalism In Modern China
~ Zheng Yi (Author),
 
Eat more [dollars,] Chinese!

4 posted on 07/05/2013 1:29:38 PM PDT by TArcher ("TO SECURE THESE RIGHTS, governments are instituted among men" -- Does that still work?)
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