In an interview on CNBC earlier today Robert Shiller provided his outlook for housing. Shiller says house prices haven’t necessarily bottomed yet.
“A lot of people seem to think that if the market turns around, that means more of the same, meaning another big boom.”
“I don’t think [a boom] is in the cards. We might see home prices go up a little bit, you know, a little bit above inflation, maybe. Not likely that we’ll see a real boom.”
“I’d like to people getting optimistic again. Not that I expect to see this, but if you want to see another boom like that, people would have to get excited and thinking that this is it. You know, I don’t quite see it. It’s not this gung-ho, go into housing.”
See the full clip here: