Yale's Shiller Not Surprised by Divergence Between Markets, Economy

The transcript discusses the economic impact of the pandemic, focusing on trends in housing and market narratives. It explores the divergence between the stock market and the real economy, highlighting narratives like the V-shaped recovery and FOMO. The discussion also covers migration trends from urban to suburban areas due to COVID-19, the impact of interest rates on the housing market, and the historical context of market volatility and speculation.

What changes in consumer behavior might affect the housing market post-pandemic?

What is the significance of the Cape ratio in evaluating market conditions?

Why does the speaker believe the market and the economy can diverge?