Bubble deniers — now and then

12 Nov, 2014 at 16:44 | Posted in Economics | 1 Comment

irving-fisherStock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.

Irving Fisher October 17, 1929

2200691642 My point is that housing prices — since 2007 — seem to have been rather stabilized in relation to disposable incomes. My hypothesis is that we have got a shift to a higher level of housing prices until around 2007 because of the fundamental circumstances that explain the rise in prices, but that in the future we will probably come to see a slower development, more in line with disposable incomes.

Lars E. O. Svensson December 09, 2013

1 Comment

  1. At least, he had skin in the game.

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