Shiller says another housing boom unlikely

Home sales and prices may be on the rise across the country, but housing guru Robert Shiller is not convinced that another bubble is on its way, Yahoo reported. Shiller told the website that, while the market looks positive in the short-term, in the long run, “it’s really a great unknown.”

Speculators were behind 27 percent of the sales of existing homes in the U.S. over the last year, and are increasingly making purchases all in cash. However, despite the “speculative excitement,” Shiller said he does not believe a housing bubble is growing.  [more]