Shiller: Housing market ready to burst, reminiscent of 2006 bubble
“’If the markets go down, it could bring on another recession. The housing market has been an important element of economic activity. If people start to get pessimistic about housing and pull back and don’t want to buy, there will be a drop in construction jobs and that could be a seed for another recession,’ said Shiller.”
USAGOLD note: Shiller does not limit his caution to the housing sector alone. He has also warned time and again over the past several months that the stock market is overvalued to an extreme.
Image by Anaxibia [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], from Wikimedia Commons [Edited]