2014 May 5, 8:25am
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Your house is a terrible investment, and it's getting worse. Of course, that's good news for home shoppers. Prices are likely to fall from here. That was the view of one of the world's top bond managers at one of Wall Street's mosthigh profile investment conferences on Monday. Speaking at the Sohn Conference, which is being co-produced by Bloomberg, Jeffrey Gundlach, who is the founder of bond fund firm Doubleline Capital,called single family houses "overrated" and over-loved by individual investors. "Home ownership will continue to decline," says Gundlach.
Shiller also said that houses are not a good investment.