Wednesday, November 7, 2012

Roubini Spots the Uptick in the Housing Market

He tweets:
Lower supply in the housing market seems to be boosting prices, as home prices have been showing signs of firming up in recent months.
Although a Keynesian, Nouriel Roubini is a pretty could data watcher and spots trends early, but not as quickly as EPJ.

1 comment:

  1. I just want to point out that Peter Schiff (who also made great predictions well in advance of the herd) is generally pessimistic about housing in the US. Yes, it's a real asset so that's good but what if you can't afford to heat your home or can't afford to repair damage? And what if you end up living in a crime-ridden neighborhood? Plus, what happens when interest rates rise (and they have nowhere to go but up)? Housing prices are inverse with interest rates. Even if housing goes up nominally, it's probably not nearly as good an investment as precious metals or non-USD denominated stocks that are in businesses that aren't reliant on US customers.

    I'd be very interested to hear Mr. Wenzel's comments on the above.