In this week’s Big Interview, the Wall Street Journal‘s Simon Constable interviews Robert Shiller who flat out says that an economic double dip may be “imminent.” This compares to his earlier warning that he saw the chances of a double dip at over 50%.
Furthermore, those looking to sell houses in the US are hereby advised not to listen to the interview, as the co-creator of the Case-Shiller Home Price Index also adds that he is worried housing prices could decline for another five years.
He notes that Japan saw land prices decline for 15 consecutive years up to 2006.Following up on this week’s weakest new home sales data in history this should probably not come as a big surprise to most.
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- Robert Shiller: Double-Dip May Be ‘Imminent’ (wallstreetpit.com)
- Shiller Sees Potential ‘Double Dip’ (online.wsj.com)
- Robert Shiller: There’s Now More Than A 50% Chance Of A Double Dip Recession (businessinsider.com)
- Economists See Increased Chance Of Double-Dip Recession (huffingtonpost.com)
- Chance of double-dip recession is high: Shiller (reuters.com)
- Economic Report: Consumer confidence inches up in August (marketwatch.com)
- Shiller: Jobs Are the Key to Housing Recovery (moneynews.com)
- MarketWatch First Take: Bernanke pushes back at more easing (marketwatch.com)