According to one housing expert, housing is no longer thought of as a great investment over the long run, but buyers lately have become more optimistic.
Yale Economics Professor Robert J. Shiller writes in the New York Times that during the boom, people “were excited to think they could borrow 90 percent or more of a home’s value at around 6 percent interest and receive an annualized return of more than 12 percent.” They found out they were wrong when the bubble burst, and today’s buyers aren’t as “wild-eyed.”
PB Topical Ref
