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Housing Guru Robert Shiller - Don't Get Too Excited About the Housing Turnaround Yet

December 19, 2012 | About:

Like many investors, I follow with baited breath the insights of Warren Buffett. For a couple of years Buffett has been telling us that when the housing market really turns both unemployment and the economy are going to get a lot better in a hurry.

Robert Shiller has been a credible observer of the housing market and had some observations today cautioning that we aren't on the cusp of a housing boom:

- We might see home prices go up a little bit, but there is no boom in the cards.

- Shiller isn't even certain that we have bottomed yet.

- This was the worst economic crisis since the great depression and that has changed the way people think; more people are going to rent on a long-term basis.

- The surveys Shiller does do not show that the general population is optimistic on the long-term housing market.

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