Shiller Calls Yesterday’s Case-Shiller Report an Anomaly

Who better to get some clarification on yesterday’s Case – Shiller Home Index, report than Robert Shiller. He invented the index.

Yale Economist, Robert Schiller has been very bearish all year, concerning the U.S economy. But yesterday on Bloomberg he said yesterday’s poor home sale figures in July came in an “anomalous” month. Shiller said that the scheduled expiration of the government’s home buyer tax credit program led many buyers to rush to get their purchases made by the June 30 deadline, meaning that a July drop off shouldn’t be a big surprise. But don’t expect Shiller to be positive going forward, he’s been bearish all year.