New York Magazine published today an interview with me where I present my view on the coming US (and even NYC) housing crash. Today’s figures on existing home sales and their dropping prices are fully consistent with my views (expressed in many occasions here) that the housing market will have its biggest bust in decades and … Read more

Bob Shiller is Sharply Shrill…Sorry for the poetic alliteration. As I guessed in my previous blog on a severe housing-led recession, Bob Shiller – my former colleague at Yale in the 1990s – is himself a proud member of the Shrill Order of the Reputable Reality-Based Eeyores, as his op-ed  – with Karl Case – … Read more

The Biggest Slump in US Housing in the Last 40 Years: These are not my views but those of the Toll Brothers, the famous luxury McMansions homebuilders, as CNN reported last week. Also, as reported by the WSJ today: In his 40 years as a home builder, Mr. Toll says, he has never seen a … Read more

On Friday I was in Davos in a panel on the “Ups and Downs of EMU” (European Monetary Union) where ECB head Trichet, Italian Economy Minister Tremonti, a few other EU officials and myself were supposed to discuss the following questions: Will EMU collapse in the future? Which country will exit first? What will be … Read more