Robert Shiller, co-founder of the Case-Shiller index, says expectations about home prices are reasonable now, which he says precludes a new housing bubble. "Affordability is still good compared to any time over the last 50 years. Mortgage rates are still around 4½ percent; that's not high. Homes are still roughly, in real terms, where they were 25 to 50 years ago," he said.
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