Economist Robert Shiller explains why despite “bubbly” cities like San Francisco, we are not approaching another housing bubble. Houses are needy, long-term investments for people with stable jobs; many people are still simply unable to purchase and make that long-term commitment.
Shiller also says those who are not ready to buy do not need to feel as if they are missing out on an investment opportunity. People who move around a lot or jump from job to job are perfectly suited to renting, and do not need to be concerned with buying a home until they find more stability.
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Buyer beware: Hidden costs of homeownership add up