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“‘The housing market has been declining for something like six years now, it could go on, that’s my worry,’ Shiller said in Davos, Switzerland. ‘The short-term indicators are up now, it definitely looks better, but we saw that in 2009.’  ‘It’s a good housing market in the sense that mortgage rates are very low and prices have come down to normal levels, so yes, it’s a good time to buy if nothing bad happens,’ Shiller said.  ‘But it’s also a very bad housing market in that most of the mortgages are being supported by the government, and we have the Fed and this buying program. It’s a very abnormal market. There’s a lot of uncertainty going forward.’”

http://www.bloomberg.com/news/2013-01-24/shiller-says-u-s-housing-market-decline-may-persist-correct-.html