Robert Shiller “Expects” Double Dip Recession – Probability Over 50% for More Economic Struggles

Posted on | July 27, 2010 | No Comments

Robert Shiller, a professor of economics at Yale and better known for the Case/Shiller home price index, made a recent statement to Reuters that there was a probability of over 50% that the United States economy would see a double dip recession.  In the interview Shiller said that he actually expects to see a double dip.

The Case/Shiller home price index for May showed that home prices rose more than expected in May but much of this could be due to the fact that the first time home buyers tax credit boosted sales and prices.  When asked where he feels home prices will go in the future, Shiller said “”I don’t know; I am taking a “wait-and-see” attitude.”   If the individual who created the home price index has no idea where home prices are headed then it is safe to say that most have no clue as to where home prices will be in the near future.

Author: Heather Best

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