From Business Insider
''His outlook for housing wasn't any prettier.
Predicting that we have another four years until the market absorbs all the excess housing supply, he said that Americans have finally reached an important realization that could change their views on homeownership in the future.
"People now realize, for the first time since 1937, that house prices can and do fall," Shilling said.
"The next event to watch is what happens in the next few quarters," he continued, arguing that major banks and the government "did not want the bad PR of a big wave of foreclosures" while they were mediating an end to the robo-signing crisis. "Now they're going to come back with a vengeance," he predicted.''
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