“This is a sign of weakness that we’re starting to see,” Shiller, the famed housing economist, told Yahoo! Finance on Oct. 30 after his namesake S&P Case-Shiller Index reported that U.S. housing prices continued to cool. “And it reminds me of 2006 … a couple of years before the financial crisis, [when] home prices were starting to weaken a bit.”
Perhaps Shiller should have added “except in Philadelphia.”
Credit: Caitlin McCabe, philly.com
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