Trump Win Could Usher in Boom for U.S. Housing, Says Shiller
by Alister Bull
December 27, 2016, 10:55 AM EST
- Rising mortgage rates may spur more buying now to get ahead
- Says ‘I want to see Trump’s actual policies’ and what can pass
Donald Trump’s unexpected victory in the November U.S. presidential election could prove a pivotal moment for the U.S. housing market, according to economist and Nobel laureate Robert Shiller.
“I think we’re at a turning point. The numbers that we’re reporting today are October, before the Trump election, and everything looks different now,” he told Bloomberg Television’s Alix Steel and David Westin. “There might be a Trump boom coming.”
S&P CoreLogic Case-Shiller data released earlier on Tuesday showed that home prices in 20 U.S. cities maintained a steady pace of increases in October, rising by 5.1 percent, while a gauge of nationwide property values rose by the most since mid-2014.
Shiller, a professor of economics at Yale University, said that this trend might continue, or it might accelerate.
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