ROBERT SHILLER: We Might Not See A Turnaround In Housing In Our Lifetimes

Robert Shiller has previously said that there is no guarantee that home prices will go up. And today's home price reading reinforced that view.

In an interview with Reuters he said a weak labor market, higher gas prices, and lack of consumer confidence would likely see home prices continue to stay low:

"I worry that we might not see a really major turnaround in our lifetimes."

He also said that suburban areas are likely to see bigger price declines because higher gas costs will cause a rising demand for

Don't Miss: 11 Big Bubbles That Are Happening Right Now >

More From Business Insider

• ATTENTION EVERYONE: Social Security Will Never Run Out For As Long As You're Alive
  

• You Have To See How North Korea Just Threatened The South
  

• IT'S OFFICIAL: Keynes Was Right