Nobel Laureate: The U.S. stock market, the property market, and Bitcoin are simply "wild west, and the release of money cannot explain all this."

According to CNBC, Nobel laureate economist Robert James Shille expressed deep concern about some of the hottest assets in the market — the bubble is too big.

Schiller said he pays special attention to housing, stocks and digital currencies. In his eyes, the assets are now in a state as "wild as the American West."

<h2>The current house price is like 2003</h2>

Over the past two weeks, the stock and digital currency markets have experienced sharp volatility. In addition to these two assets, Schiller is also very uneasy about the real estate market.

Schiller said that in the past century, house prices have never been so high. As co-founder of the S&P CoreLogic Case-Shiller House Price Index, Schiller doesn't think that housing prices are so high that the central bank's release of water can explain it, and he believes that there must be some profound change in the market behind it.

Over the past three decades, Schiller has found through research that house prices appear to be the leading index for home starts. He believes that the current correspondence has reappeared, and there is currently a great upward momentum for house prices, and in another year, we will not want to see house prices collapse.

But Schiller also believes that the current house price trend is reminiscent of 2003, when the real estate boom was only 2 years left, and then house prices passed through highs and fell very slowly, but eventually collapsed during the 2008 financial crisis.

<h2>Inflation expectations could cause the stock market to move lower</h2>

Since the March 2020 lows, the three major U.S. stock indexes have repeatedly reached new highs, with the S&P 500 and the Dow both up nearly 90%, while the technology-based Nasdaq has just risen more than 100%.

But Schiller argues that the stock market is "too high" for now. He warned that in the long run, concerns about inflation expectations could eventually lead to lower equity assets.

<h2>Be seduced by digital currencies</h2>

Finally, Schiller said that the cryptocurrency market also keeps Schiller on alert.

He believes that although digital currencies are very impressive technology, the currency circle is very "psychological".

Schiller also believes that the ultimate value of digital currencies is rather vague and erratic, and that it is only relevant to our imagination, not to reality.

It is worth mentioning that Schiller said that he was also deeply tempted by digital currencies.

He said: "I was once ready to buy them to experience the following, I have never bought Bitcoin, maybe I should be active in the coin circle." ”

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