Shiller: Probability of double-dip recession remains highNews added by ProWEB Media on July 27, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

The economy continues to provide reason for concern, and the possibility of a double-dip recession remains high, according to Robert Shiller, professor of economics at Yale University and co-developer of Standard and Poor's S&P/Case-Shiller home price indexes.

Shiller recently told Reuters that he can't predict the path of home prices in the U.S., but believes the economy is in a precarious position.

"For me, a double-dip is another recession before we've healed from this recession ... The probability of that kind of double-dip is more than 50 percent. I actually expect it."

He added that when it comes to the future of home prices, he is taking a "wait-and-see" attitude.

In May, U.S. single-family home prices rose by more than expected, fueled by an upswing in spring sales as a result of homebuyer tax credits, according to the most recent Standard & Poor's/Case Shiller home price indexes.
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Post Press Release