Inflated house prices

I like reading Paul Kedrosky’s Infectuous Greed blog, even if I think he occasionally says some things that are completely moronic. One reason I do, though, is the occasonal food for thought, like this post on inflated house prices.

Yale economist Bob Shiller says in the weekend issue of Barron’s that he’s still looking for 20-30% housing price declines over the next 5-10 years — including in untouchable cities like San Francisco and New York (and I’ll include Vancouver)

He goes on to quote the article, talking about the relocation that’s occurring. Some folks left comments that pointed out that there are always going to be people drawn to jobs in hot markets like New York or San Francisco, but I know of at least one San Francisco-based company that’s looking to hire outside of the city.

3 thoughts on “Inflated house prices

  1. Heh….ok, I guess I was feeling pretty punchy there. Yes, only occasionally, and almost certainly less often than I do.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s