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April 30, 2014 11:24 am
In a recent interview on CNBC’s ‘Squawk Box’, Robert Shiller, Nobel Prize-winning economist and founder of the Case Shiller Price Index, discussed today’s housing market in a rather personal way. Shiller first commented that he believes "There is a certain, substantial amount of momentum in the housing market—much more so than the stock market." He then went on to make the point more personal when he revealed: "My son just bought a house. I told him, 'Fine’." Why was Shiller so comfortable about his son’s purchase?