Great post TG, you really should start your own blog somewhere, I would read it. I do see a scenario where home prices stay low for a long time. All it takes is long term unemployment, slowly but steadily rising interest rates, or another depression like double dip. If World War 2 had not pulled us out of the first depresssion who knows how long recovery may have taken.
Bearishgurl I think the weather is actually better 5 miles inland than it is at the beach, I would think that anyone that has lived in both would agree. Shiller is not in my book living in an ivory tower, he is very down to earth.