Commentary
The Nobel prize winner Robert Shiller warns about the risk of the U.S. housing bubble bursting. In 2013 Robert Shiller (together with colleagues) was awarded the Nobel Prize in Economic Sciences for his empirical analysis of asset prices.
Although he has been famous for stock market studies, his century-long housing price series is the standard dataset used in long cycle studies nowadays. Even though he did not collect and compile the old annual data, integrating them into one single series together with his monthly series (the Standard and Poor/Case-Shiller housing price index) already greatly facilitates most real estate researchers….