Robert Shiller Fears Housing Market Falling Additional 25%
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In an interview with FOX Business Network on Tuesday, Case-Shiller Index co-author Robert Shiller stated that he fears home prices falling an additional “25% in real terms.”
Shiller added that the market will come back "spontaneously” and requires nothing more than instituting "sensible policies."
"There are too many negative indicators. I worry that home prices might fall not just a little; 15, 20, even 25% in real terms," Shiller said.
Shiller does believe that the housing market will return, but it will take nothing more than time and policies being put into place to spur growth.
“It does come back. People can get discouraged and it doesn’t take anything but sensible policies and the spirit will come back spontaneously. To some extent that has happened since the bottom 18 months ago. But it’s still uncertain. Confidence is coming back. I am long run optimistic, but short run not so sure.”
Shiller added that the market will come back "spontaneously” and requires nothing more than instituting "sensible policies."
"There are too many negative indicators. I worry that home prices might fall not just a little; 15, 20, even 25% in real terms," Shiller said.
Shiller does believe that the housing market will return, but it will take nothing more than time and policies being put into place to spur growth.
“It does come back. People can get discouraged and it doesn’t take anything but sensible policies and the spirit will come back spontaneously. To some extent that has happened since the bottom 18 months ago. But it’s still uncertain. Confidence is coming back. I am long run optimistic, but short run not so sure.”
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