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Shiller of Yale Sees 4-6% Drop in Home Prices Over Next Year
Robert Shiller, chief economist at MacroMarkets LLC, and a professor at Yale University, talks with Bloomberg's Kathleen Hays from New Haven, Connecticut, about the S&P/Case-Shiller home price index, released today, which showed home prices fell in January for the first time in six years, the impact of falling home prices on consumer spending, and the outlook for house prices. The index, a composite of transactions in 20 metropolitan areas developed by Schiller and Wellesley College economics professor Karl Case, dropped 0.2 percent from the same month last year. (Source: Bloomberg)
Bloomberg | April 24, 2007
