If home prices fall another 10 to 25%, that “wouldn’t surprise me at all,” Robert Shiller told Reuters Insider today.
Shiller says that the recovery is at risk right now, and a further rise in unemployment would hint that another recession was imminent.
Today, initial jobless claims rose again, coming in higher than analyst expectations.
Shiller says he doesn’t see “any evidence” that real estate is coming out of its bearish cycle, that began in 2006.
The latest Case-Shiller data indicating that a housing double-dip was already in place.
Business Insider Emails & Alerts
Site highlights each day to your inbox.