In a recent interview on CNBC’s ‘Squawk Box’, Robert Shiller, Nobel Prize-winning economist and founder of the Case Shiller Price Index, discussed today’s housing market in a rather personal way.
Shiller first commented that he believes
«There is a certain, substantial amount of momentum in the housing market—much more so than the stock market.»
He then went on to make the point more personal when he revealed:
«My son just bought a house. I told him, ‘Fine’.»
Why was Shiller so comfortable about his son’s purchase? As he explained:
«The futures market at the CME is predicting something like 25 percent higher home prices in 2018.»
The ‘guru’ of home prices just proclaimed that this was a good time for his own family to purchase a home.
That begs the question: Are you advising your adult children that now may be the perfect time to buy?