Bullish Bear Posted February 17, 2006 Share Posted February 17, 2006 http://news.ft.com/cms/s/b343303a-9eb0-11d...00779e2340.html The Yale professor correctly predicted the last stock market crash five years ago in his book, Irrational Exuberance. Now he is predicting a property meltdown Quote Link to comment Share on other sites More sharing options...
DonnieDarker Posted February 17, 2006 Share Posted February 17, 2006 ...in the US... Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted February 18, 2006 Share Posted February 18, 2006 Of course, the US economy has no affect on the UK! Sadly, the UK is full of people who think such a thing and then get slammed when the US catches a cold. TV News reports here in the UK of a US house bust will have an enormous affect on the UK market. No doubt many Brits with second homes falling in price in the US will also filter through to the mainstream Public. This is going to be the first global housing crash - stand back, take refreshments and watch! Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted February 18, 2006 Share Posted February 18, 2006 One striking theme within Irrational Exuberance is Shiller’s preoccupation with greed. He writes about the 60-fold rise in gambling in the US since 1962 and suggests that this new-found appetite for risk has spilled over into how people approach investment. The real estate bubble, he argues, has simply replaced the last stock market bubble as the focus of people’s avarice. And as poker legend Amarillo Slim Preston puts it "If you sit down at the table and can't spot the sucker,then it's you" Quote Link to comment Share on other sites More sharing options...
Not a moderator Posted February 18, 2006 Share Posted February 18, 2006 Well I hope the food had more nutrition than that FT article had... it seems like the journalist had little to do other than to eat & fawn over his pretigious guest... not that the guest had anything to say. Hmm prices are high & they may fall in some areas..... genious, give the guy a medal. Quote Link to comment Share on other sites More sharing options...
ronnie Posted February 18, 2006 Share Posted February 18, 2006 ...in the US... actually his book deals with europe and uk too. uk ireland etc actually have average house prices much higher than most parts of US relative to average wage rental yields etc so what he says is even more relevant to this side of the atlantic. Quote Link to comment Share on other sites More sharing options...
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