Case-Shiller Index co-author Robert Shiller tells FOX Business Network (FBN) that he fears home prices could fall up to an additional “25% in real terms.” He expressed confidence in the entrepreneurial spirit of people saying that the real estate market will “come back spontaneously” and requires nothing more than “sensible policies”.
Excerpts from the interview are below.
On how much more the real estate market will fall from current levels:
“There are too many negative indicators. I worry that home prices might fall not just a little; 15, 20, even 25% in real terms.”
On whether the housing market will bounce back:
“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.”
Watch the latest video atvideo.foxbusiness.com
**CREDIT: FOX BUSINESS NETWORK**
Excerpts from the interview are below.
On how much more the real estate market will fall from current levels:
“There are too many negative indicators. I worry that home prices might fall not just a little; 15, 20, even 25% in real terms.”
On whether the housing market will bounce back:
“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.”
Watch the latest video atvideo.foxbusiness.com
**CREDIT: FOX BUSINESS NETWORK**
