Thanks to Stormin for sending in this post from Bill at CR:
I think Professor Shiller has changed his view … writing in the NY Times: Before Housing Bubbles, There Was Land Fever
“With rates now relatively low, this could be an auspicious time to buy a house with a fixed-rate mortgage. That could make good sense for people who aren’t out to bet on the housing or mortgage markets but are instead focused on settling into a home for the long term.”
It might be an “auspicious” time to buy … if someone can find a home for sale (there is so little inventory in many areas).