Shiller on Housing, QE3

Yale Economist Robert Shiller says he’s not sure if the housing market has bottomed, and says it’s likely that an environment of austerity is behind the recent economic slowdown. Shiller tells CNBC that another round of quantitative easing “might help, but I don’t know that it’s going to overwhelm the general mood of austerity which is affecting confidence in all things, including housing.”