WASHINGTON (Reuters) - U.S. home prices could fall another 25 percent from current levels, influential economist Robert Shiller said on Tuesday.
“My intuition rates the probability of another 15, 20, even 25 percent real home price decline as substantial. That’s not a forecast but it’s a substantial risk I think,” Shiller told reporters on a conference call.
U.S. single-family home prices fell for the sixth month in a row in December, bringing them closer to the low seen in 2009, according to the S&P/Case Shiller composite index of 20 metropolitan areas.
Reporting by Corbett B. Daly; Editing by W Simon