Case-Shiller Survey: Home Prices Likely Heading Lower

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Posted To: MND NewsWire

The country is on the verge of a double-dip in housing prices according to new survey from MacroMarkets LLC . The financial technology company asked a panel of 111 economists, real estate experts, investment and market strategists to project the path of housing prices over the next five years based on the S&P/Case Shiller U.S. National Home Price Index. Robert Shiller, MacroMarket's cofounder and chief economist said panelists' sentiments regarding the housing market continue to deteriorate. "Now they are expecting only a weak recovery and even that is not until 2013." Shiller blamed the outlook on market fundamentals; high unemployment, high inventory, and continuing foreclosures and tight credit. Terry Loebs, MacroMarkets managing director said that overall, the March expectations data...(read more)

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Source: www.mortgagenewsdaily.com

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