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Shiller: Housing market could take 50 years to fully recover

Posted on 01 November 2012

From housing starts to home prices, renowned economist Robert Shiller acknowledged “there are a lot of positive signs” for the U.S. housing market right now, but said Wednesday it’s still unclear if a recovery is actually in place.
After all, Shiller noted the housing futures market for single-family homes was only “mildly optimistic” before superstorm Sandy struck the U.S.’s East Coast with expectations for just 3 percent growth per year over the next four years. “If it goes up 3 percent a year that means that, in real terms, housing is just about flat,” Shiller said. “It’s not a recovery to write home about.”……………………………………….Full Article: Source


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