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Roubini: ‘Housing Prices Can Only Move Down’

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Ash Bennington
CNBC
Wednesday, December 29, 2010

According to economist Nouriel Roubini, the housing market is in a double dip.

And negative Case-Shiller Home Price numbers out today only confirm that unpleasant truth.

(ARTICLE CONTINUES BELOW)

Roubini: Housing Prices Can Only Move Down 011210banner3

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“It’s pretty clear the housing market has already double dipped,” says Roubini. “And the rate of decline is stronger than in previous months,” he said of the new housing data.

Aside from below trend economic growth, there are two factors specific to the housing market that are putting downward pressure on home prices.

Full story here.

This article was posted: Wednesday, December 29, 2010 at 2:36 am





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