Interesting article hear on where Robert Shiller thinks housing prices will go. The article quotes “that a 10 percent to 25 percent slump in real home prices ‘wouldn’t surprise me at all,’ though he cautioned that was not a forecast.” Here is a link to the full article:
In the video, Shiller mentions prices in Japan have been falling for 20 years, and ours have only been falling for 5 years. Since I believe that there are alot of parallels between our situation and Japan’s, that doesnt bode well. Note this chart of Japanese urban land prices.
For the full rundown on the history of the fall of Japanese housing – here is an interesting article from 2009: http://www.globalpropertyguide.com/Asia/Japan/Price-History