Today’s report showing month-to-month home resale values declining again in the Twin Cities and the country at large has led to a startling analysis by the guy that designed the monthly study.
“We don’t have any real story that could lead to another boom like we had earlier in the century,” said Robert Shiller, who co-founded the Case-Shiller survey.
In an interview with the Wall St. Journal today, Shiller sounded little but despair.
“Psychology matters,” he said. “I don’t know if home prices will go up anytime soon.”
On CNBC, another analyst said there “really are no bright spots” here.