Professor Robert Shiller interviewed by Wall Street Journal discussing yesterday's Case-Shiller Report. (20-City Composite fell 0.8% from their levels in October 2009)
If prices continue to fall at this rate, Shiller expects Congress will issue another home-buyer tax credit or other emergency measure to stop the fall, despite the fact that it's an unfair gift of taxpayer money to a group of people that simply buy a house. When the ship is sinking this fast, Shiller says, you do what you have to do.
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