Shiller: House Prices Still Way Too HighPosted Feb 23, 2009 07:00am EST by Henry Blodget in Investing, Recession, Housing
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When Yale professor Robert Shiller stopped by recently to discuss Obama's housing fix, I also asked him about the housing market in general.
Specifically, where are we in this historic price collapse? Finally nearing the bottom?
Not a chance, said professor Shiller--unless the government finds some way to miraculously levitate prices again.
Despite the 25 percent nationwide decline since the 2007 peak, U.S. house prices have still only fallen halfway to fair value. So whatever you think of Obama's plan, don't count on a quick housing-market turnaround.
Click here for our earlier discussion on Obama's plan.
Video ->
http://finance.yahoo.com/tech-ticker/article/190712/Shiller-House-Prices-Still-Way-Too-High?tickers=
