WATCH: Former Wells Fargo CEO calls BofA fine “extortion”

WATCH: Former Wells Fargo CEO calls BofA fine “extortion”

Kovacevich says fine is political and has “nothing to do with justice”

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny
W S
Lending / The Ticker

Robert Shiller: Homes remain affordable despite price increases

Housing bubble
/ Print / Reprints /
| Share More
/ Text Size+

Despite home prices rising at their fastest clip in seven years, Robert Shiller, founder of the S&P Case-Shiller Home Prices Indices, noted that homes are still affordable, and there is no national price bubble. Per CNBC:

"I define a bubble as a time when people have extravagant expectations, and the expectations are driving home price increases," said Robert Shiller, Case-Shiller index co-founder and Yale University professor of economics, in an interview with CNBC. "We don't have the mindset of earlier this century."

"Affordability is still good compared to any time over the last 50 years. Mortgage rates are still around 4½ percent; that's not high. Homes are still roughly, in real terms, where they were 25 to 50 years ago," he said.

Source: CNBC
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus