May 19, 2010

ALL OF WHICH ASSUMES NO CHANGE IN IMMIGRATION LAW:

Home Prices Projected to Begin Rebound in 2011 (JAMES R. HAGERTY, 5/19/10, WSJ)

MacroMarkets, based in Madison, N.J., was co-founded by Robert Shiller, an economist at Yale University who helped create the Case-Shiller indexes. MacroMarkets creates securities that let people bet on the direction of various types of assets, including residential real estate. The survey by MacroMarkets was the first of what it says will be a monthly series involving about 100 analysts.

Mr. Shiller, who didn't contribute a forecast for the survey, said in an interview that the average prediction of a 12% price rise over five years was "a plausible scenario." During the housing boom, Mr. Shiller drew attention for bearish house-price comments that were far gloomier than the consensus but eventually proved to be on the mark.

Posted by Orrin Judd at May 19, 2010 1:48 PM
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