The Inefficient and Fragile Housing Market

It was interesting to see that this week, the Nobel Prize, the biggest prize in economics went to three US economists, one being “irrational exuberance” Robert Shiller. Markets for the most part are presumed to be efficient and what Shiller points out is the weaknesses inherent with this model.

via The inefficient and fragile housing market: How trying to increase homeownership can backfire and add costs to regular home buyers. » Dr. Housing Bubble Blog.

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