Odds ‘n Sods:
Speaking at the Federal Reserve’s Jackson Hole, Wyoming conclave in August, Yale University Professor Dr. Robert Shiller said that residential house prices might fall as much as 50% in some former real estate boom areas. As evidence, he cited how much home prices have escalated in comparison to rents. Personally, I think that 50% is an optimistic figure. Given the pendulum-like nature of macro market swings, I think that prices in some cities like Phoenix and San Diego may drop at much as 65% from their peak. And it may take five or six years before prices hit bottom. I …