The housing market could be setting itself for another bubble, co-developer of the monthly Case-Shiller home price index and best-selling author Robert Shiller told CNBC. With home affordability at a 40-year high, there is “absolutley” a possibility that the housing market will face another bubble, said Shiller.
“The low interest rates, the affordability is leaning that way and the ratios are back down,” Shiller said in a live interview. “I get glimmers of excitement among some people, but we still have a high inventory of unsold homes,we still have a lot of weariness because of the recent experience. So, I would say well under half probability that we emerge into another housing bubble in the next five years.”
