Housing market reminiscent of 2006 bubble, ready to burst – Nobel Prize-winning economist Shiller — RT Business News

The weakening housing market is similar to the last market high, just before the subprime housing bubble burst a decade ago, says famed housing-watcher Robert Shiller.The economist, who predicted the 2007-2008 crisis, told Yahoo Finance that current data shows “a sign of weakness.”Housing pivots take more time than those in the stock market, Shiller said, adding that “the housing market does have a momentum component and we’re seeing a clipping of momentum at this time.”

Source: Housing market reminiscent of 2006 bubble, ready to burst – Nobel Prize-winning economist Shiller — RT Business News

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