Nobel Prize Winner Suggests Renting For Rest of Your Life

Robert Shiller

Nobel prize winner, Robert Shiller

Yale professor Robert Shiller is now among the wisest economic thinkers of our time with a recent Nobel Prize win in Economics. The man who predicted the U.S. housing bubble has a word of advice for Americans: don’t buy, rent.

As the cost of homes continue to rise and average worker incomes remain stagnant, the obvious decision is to rent a home rather than buy. In a recent interview with Business Insider, Shiller elaborated on cost/return paradox of owning a home in today’s volatile economy:

“Housing traditionally is not viewed as a great investment. It takes maintenance, it depreciates, it goes out of style. All of those are problems…”

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