Robert Shiller, the co-creator of the S&P/Case-Shiller home-price index discusses the U.S. housing market with Bloomberg TV. The economics professor at Yale University says "we do have a large amount of housing equity in this country, but not as much as we had a few years ago."
Shiller says that there is a generational change in the way we view housing in the United States. The new figures show that homeownership declines to 1998 levels and Shiller says generally buying real estate these days "is not a clever move."
Take a look at what else Shiller has to say about the U.S. housing market in the video below:
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