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Prediction

The S&P 500 dividend yield is defined as the sum of the most recent full year dividend paid by all companies in the S&P 500 divided by the current S&P 500 share price, both calculated according to the weights of the S&P 500 index at a given moment. It measures how high prices are relative to dividends: low dividend yields mean prices are high compared to dividends, and vice versa.

Dividend yields are often used as a measure of "overvaluation" in the stock market, and they have been trending downwards for the past forty years. This question is about the future of this measure.