Bubble Trouble?
Your Home Has a P/E Ratio Too

- by Edward E. Leamer *

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Nationally, there is thus no bursting housing bubble in the immediate future. But this index could turn around rapidly if Mr. Greenspan decides to increase short-term interest rates. A flattening of the yield curve, rising mortgage rates, and weaker appreciation could all add up to a significant drop in housing. Stay tuned, I promise to keep you informed of any breaking developments in this regard.

Concluded

* Edward E. Leamer,
Director, UCLA Anderson Forecast.
Check the link for author's profile: http://www.anderson.ucla.edu/faculty/edward.leamer/pdf_files/cv.pdf

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