Monday, March 30, 2009

Robert Shiller on CNBC now!

Robert Shiller is a guest host on CNBC's Squawk Box from 7:00-9:00 AM today.
Posted by at 7:00 AM
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10 comments:

  1. AnonymousMarch 30, 2009 7:54 AM

    Professor Shiller, please look at these maps of DC, Arlington-Alexandria, and Manassas.

    Why are prices holding up nicely in the close-in areas and not in the boondocks such as Prince William County?

    "The county felt the worst of the market downturn as foreclosures climbed. Homes in some areas around Manassas lost half their value."

    Could Lance have been right?

    ReplyDelete
  2. AnonymousMarch 30, 2009 11:21 AM

    Link

    Home sales are still frozen in high-priced areas, according to analyst DataQuick. Those areas have had fewer foreclosures and wealthy sellers can typically afford to keep houses on the market longer at higher asking prices.

    ReplyDelete
  3. AnonymousMarch 30, 2009 12:15 PM

    Why are prices holding up nicely in the close-in areas and not in the boondocks such as Prince William County?

    Because as case shiller told us so long ago:

    "So, even as overall sales volume drops, relatively stonger demand for housing will limit price declines in neighborhoods with shorter work commutes, better schools, and easier access to parks, recreation, and retail centers....When combined with large inventories of undold housig on the edges of urban areas, this shift in preferences will mean that prices in outlying neighborhoods will continue their more rapid decline and will be slower to rebound when housing markets finally start to recover."

    http://www2.standardandpoors.com/spf/pdf/index/052708_Housing_bubbles_collapse.pdf

    Of course, getting the bubble heads to believe what they dont want to hear is a completely separate issue.

    ReplyDelete
  4. AnonymousMarch 30, 2009 12:38 PM

    "Could Lance have been right?"

    He certainly was!

    There was clearly no bubble, it is a new paradigm!

    Anyone that didn't buy back in 2007 missed their chance, because that turned out to be the bottom.

    Next Manhattan here we come!

    ReplyDelete
  5. AnonymousMarch 30, 2009 3:00 PM

    Dear Bob,

    West Virginia is not inside the beltway.

    You're welcome.

    ReplyDelete
  6. JamesMarch 30, 2009 3:43 PM

    Anonymous said...
    "Dear Bob, West Virginia is not inside the beltway."

    Only a sliver of West Virginia is counted as part of the DC Metropolitan Statistical Area. The number of people who live in that sliver is negligible compared to the population of Fairfax County, Montgomery County, Prince Georges County, and DC. Robert Shiller is not the guy who decided to count that sliver of WV as part of the DC MSA. It was U.S. government officials at the Bureau of Labor Statistics WHO WORK IN DC who made that decision.

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  7. AnonymousMarch 30, 2009 4:04 PM

    So what you're saying then, is that Bob is a lemming who can't think for himself? Why not create an index that accurately reflects *reality* rather than rely upon MSA?

    Wait, what's that? Stop attacking the infallible and omniscient professor Bob? OK.

    Oh, that DC air. It makes folks think funny, doesn't it? Worst housing market in history and people are *still* paying more to live in DC. It sure does feel good to be superior out here in Centreville where I will have no access to food or employment if I don't feed a large percentage of my income to my automobile. I'm sexy like that.

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  8. JamesMarch 30, 2009 6:56 PM

    I said...
    "It was U.S. government officials at the Bureau of Labor Statistics WHO WORK IN DC who made that decision."

    My bad. It's actually the U.S. Census Bureau. But again, it's people WHO WORK IN DC who decided to count that tiny sliver of WV as part of the DC area.

    ReplyDelete
  9. JamesMarch 30, 2009 7:13 PM

    Anonymous said...
    "It sure does feel good to be superior out here in Centreville where I will have no access to food or employment if I don't feed a large percentage of my income to my automobile."

    I don't feed a large percentage of my income to my automobile. $4 gas didn't bother me at all. You also seem to be completely unaware that there are LOTS of jobs in Fairfax County. I live in Fairfax County and I work in Fairfax County. Also, without automobiles, DC has no access to food. It's not like D.C. is a big farming community. How do you think food gets to your local grocery store, you idiot?

    ReplyDelete
  10. DavidApril 07, 2009 11:27 PM

    If you're interested in keeping up with the latest from Dr. Robert Shiller, check out www.shillerfeeds.blogspot.com

    ReplyDelete

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