‘Pervasive fear’ drove up house prices, says Nobel Prize winning economist

Emotional security that comes with buying a house in uncertain times lifted the market, claims Robert Shiller

Robert Shiller has warned against herd mentality. Photo: Michelle McLoughlin

Niamh Horan

The Nobel Prize-winning economist Robert Shiller has claimed that a number of psychological factors sent global house prices soaring in the wake of the pandemic, such as people entering the market to calm their fears about world events.

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