Shiller: US housing in “precarious state”

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What are the US economic reports telling us? Is the economy facing a “double-dip” recession?

“The more plausible, bad scenario is not a double dip but just a very slow recovery … [where] the unemployment rate comes down but only over years,” says Robert Shiller of Yale University (via Yahoo Finance – Tech Ticker).

Shiller, who co-created the Case-Shiller Home Price Index, is most concerned about the nascent US housing recovery, saying that housing is in a “precarious state”. He said: “I think there is a definite risk of a turn down again in home prices. If home prices decline 10% or 20% more, we are in big trouble.”

Source: Yahoo Finance – Tech Ticker, March 5, 2010.

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