Lecture12

Lecture12 - Lecture 12 Real Estate Economics 252 Spring...

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Lecture 1 2 : Real Estate Economics 252, Spring 2008 Prof. Robert Shiller, Yale University
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Real US Home Prices 1890-2007-IV
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Long-Term Expectations “On average over the next ten years, how much do you expect the value of your home to change each year?” (median answer) Los Angeles Milwaukee 1988 2003 2006 1988 2003 2006 10% 8% 6% 4% 5% 6%
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Fears of Being Left Out “Housing prices are booming. Unless I buy now, I won’t be able to afford a house in the future.” Los Angeles Milwaukee 1988 2003 2006 1988 2003 2006 Agree 79.5% 48.8% 52.3% 27.8% 36.4% 43.6% Disagree 20.5% 51.2% 47.7% 63.6% 73.6% 56.4%
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Perceptions of Excitement “There has been a good deal of excitement surrounding recent housing price changes. I Sometimes I think I may have been influenced by it.” Los Angeles Milwaukee 1988 2003 2006 1988 2003 2006 Yes 54.3% 46.1% 58.0% 21.5% 34.8% 43.1% No 45.7% 53.9% 32.0% 78.5% 65.2% 56.9%
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“Stock Market is Best Investment” “The stock market is the best investment for long-term holders, who can
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This note was uploaded on 02/08/2012 for the course ECON 252 taught by Professor Robertshiller during the Spring '08 term at Yale.

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Lecture12 - Lecture 12 Real Estate Economics 252 Spring...

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