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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