By way of Bloomberg:
Robert Shiller, the economist who co- founded the S&P/Case-Shiller Index, said a 10 percent to 25 percent decline in U.S. home prices in the next five years “wouldn’t surprise me at all.”
A model for the U.S. may be Japan, where home prices fell for 15 years after that country’s real estate bubble burst in the early 1990s, Shiller said.
“They lost close to two-thirds of their value,” Shiller said. “Then they went up for one year in 2006 and then they started going down again.”
Would it surprise you?
∙ Shiller Says Home-Price Drop of 10%-25% ‘Wouldn’t Surprise Me’ [Bloomberg]
∙ S&P/Case-Shiller: San Francisco Top Tier And Condos Tick Up In March [SocketSite]