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Friday, April 24, 2009

Home Price Outlook Clouded by Disagreement

From Realtor Magazine Online, Daily Real Estate News April 24, 2009

Independent housing economist Thomas Lawler's criticism of Yale University economist Robert Shiller's chart outlining the direction of home prices since 1890 is drawing attention, as it could impact the perception of the nation's position in the current housing cycle and how to handle it.

Lawler insists Shiller's data is inconsistent and unreliable, and his own version of the chart shows that residential property prices are close to bottoming out in many markets. To date, no house-value gauge has found to be completely accurate, since no two residences are exactly alike.

Source: The Wall Street Journal
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