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Home prices aren't just not rising any time soon, Case-Shiller Index co-founder Robert Shiller...
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Tuesday, April 24, 2012, 6:25 PM ETHome prices aren't just not rising any time soon, Case-Shiller Index co-founder Robert Shiller says the whole notion of home ownership is undergoing a sea change that may last “for many years." Americans today lack a "success mood," he says, less enamored by the American Dream of a house in the suburbs. "The anxiety outweighs the [low] interest rate."
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The remark about mood was regarding whether there might be a catalyst to send home prices up. He was comparing to earlier rises in home prices, not saying there's something wrong with people today but rather that there's not that unusually high optimism that was associated with earlier sustained upward trends in home prices and that such a catalyst isn't present now and might not be for some years yet. I never once heard him say "won't be for a generation" which is what the S.A. summary linking to this summary claims he said.
Just check the linked content. As usual you'll find it's nothing like what S.A. says it is.
All I get from Shiller here is that he doesn't see a catalyst for another bubble, and that housing prices have finally reached a "normal" level. That should be good news to most people.