US housing may not rebound for a generation says Shiller, co-founder of S&P/Case-Shiller Index

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4/24/12, "Maybe no housing rebound for a generation: Shiller," Reuters, Chicago Tribune

"The Housing market is likely to remain weak and may take a generation or more to rebound, Yale economics professor Robert Shiller told Reuters Insider on Tuesday.

Shiller, the co-creator of the Standard & Poor's/Case-Shiller home price index, said a weak labor market, high gas prices and a general sense of unease among consumers was outweighing low mortgage rates and would likely keep a lid on prices for the foreseeable future.

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

The S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.2 percent in February on a seasonally adjusted basis, the first uptick in prices in 10 months.

But Shiller called it "a very mixed bag." Nine of the 20 cities recorded falling or flat prices on the month.

He said suburban areas in particular might endure further price declines as high gas prices increase demand for "walkable cities.""

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'Walkable cities' is what globalist Elites such as Romney adviser Mankiw and US Supreme Court Justice Breyer are forcing us into. They believe cars harm the planet and we shouldn't drive at all.

1/21/12, "A better tax system (Assembly instructions included)" NY Times, Business, by N. Gregory Mankiw

"Consider the tax on gasoline. Driving your car is associated with various adverse side effects, which economists call externalities. These include traffic congestion, accidents, local pollution and global climate change. If the tax on gasoline were higher, people would alter their behavior to drive less. They would be more likely to take public transportation, use car pools or live closer to work."...

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Radical globalist 'America Last' US Supreme Court Justice Stephen Breyer:

1/12/12, "Consumer head (Bryson) wants consumers to pay more for energy," Washington Examiner opinion, Murray and Bier

"His (Bryson's) comments had an effect on Breyer. "We better get away from oil. That'll help us. I hear Tom Friedman and Bryson -- they are giving five reasons why. .... They said the world price -- raise the price of oil. Raise the price of oil! Raise it through the roof, and then people will look for substitutes,

• so I cheer," he said smiling."

via Drudge