"Our Children and Grandchildren are not merely statistics towards which we can be indifferent" JFK

Wednesday, December 29, 2010

Robert Shiller interview by WSJ discussing falling home prices

Professor Robert Shiller interviewed by Wall Street Journal discussing yesterday's Case-Shiller Report. (20-City Composite fell 0.8% from their levels in October 2009)
 If prices continue to fall at this rate, Shiller expects Congress will issue another home-buyer tax credit or other emergency measure to stop the fall, despite the fact that it's an unfair gift of taxpayer money to a group of people that simply buy a house. When the ship is sinking this fast, Shiller says, you do what you have to do.

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