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Home prices aren't just not rising any time soon, Case-Shiller Index co-founder Robert Shiller...

Home 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."
Comments (6)
  • Tack
    , contributor
    Comments (13225) | Send Message
     
    Hey, Bob, just stick to crunching your numbers and spare us the amateur psychology.
    24 Apr 2012, 06:33 PM Reply Like
  • SanDiegoNonSurfer
    , contributor
    Comments (2670) | Send Message
     
    This summary is hugely misleading. You should always ignore the S.A. summaries and just go straight to the linked content. Shiller was very much about the data, not about projecting from psychology. He sees a trend toward centralized living (v. communting from the suburbs) and sees commute prices as contributing to that.

     

    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.
    28 Apr 2012, 11:56 AM Reply Like
  • The Patriot
    , contributor
    Comments (323) | Send Message
     
    Bet a modern comfy bomb shelter would sell well : )
    24 Apr 2012, 07:51 PM Reply Like
  • bbro
    , contributor
    Comments (9604) | Send Message
     
    "Using long term analysis, Professor Robert Shiller, macromarkets chief economist at Yale University and the co-creator of the S&P/Case-Shiller Home Price Index, told CNBC on Friday that the S&P 500 may reach 1430 by the year 2020."
    28 Apr 2012, 12:27 PM Reply Like
  • Tack
    , contributor
    Comments (13225) | Send Message
     
    He's lucky he got the words out of his mouth before we got there during air time.
    28 Apr 2012, 12:48 PM Reply Like
  • Ricard
    , contributor
    Comments (3829) | Send Message
     
    It's interesting to see so many people trying to time a bottom in housing these days.

     

    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.
    28 Apr 2012, 01:04 PM Reply Like
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