He’s talking about a rebound in U.S. suburban housing prices:
Referring to Richard Florida’s book The Great Reset, Shiller said it’s also possible that the troubles of the past five years are bringing about a change in people’s attitudes. There may be a shift toward renting rather than owning housing as well as a trend toward urban rather than suburban living, he speculated. Shiller says the shift toward renting and city living could mean “that we will never in our lifetime see a rebound in these prices in the suburbs.
Robert Shiller is a professor of economics at Yale University and co-creator of the Standard & Poor’s/Case-Shiller Index, and a guy who called the housing bubble for what it was in 2006.
