Shiller: Housing Recovery Could Take 50 Years - Yahoo! Finance
Shiller is probably best known for helping create the Standard &
Poor's/Case Shiller index, a widely-followed measure of housing prices,
which recently revealed that U.S. home prices rose 2 percent in August
compared to one year ago. Meanwhile, the NAHB/Wells Fargo Housing Market
Index - a survey of homebuilders - recently climbed sharply higher.
(Read More: Shiller: Housing Has Bottomed, but Worries Remain.)
Despite the onslaught of positive indicators for the housing market, Shiller told CNBC's "Futures Now" it's possible for the housing market to return to full strength, but it will take a while.
"It can get big as it was again maybe in 50 years. This housing
bubble was a once-in-a-lifetime thing, I imagine," Shiller said.
"Although, you know, the market might be more volatile, so the future is
always unknown."
To make his case, Shiller noted how the investing culture has changed
over the years, thereby greatly affecting the housing market.
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